I feel the same way. I can't understand how bitcoin can be seen as having any sort of adoptions when it isn't the best in any class. It is way to slow and expensive to ever be used as a currency, and even for money transfers it is beat out by Western union. Especially because you don't have to convert money that is sent via WU before you can spend it. There are so many cryptocurrencies that have unique use-cases today, and bitcoin offers nothing of worth in the current landscape. I'm not sure that the hype train is ending any time soon, but it is a hype train.
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It is the best in what many deem the most important class: security. It has, by far, the most participants ($) actively protecting the integrity of the blockchain. That IS valuable.
Also worth mentioning, what some consider a weakness, in Bitcoin's seeming inability to evolve, others see as a strength. We can't forget to factor in the number of years of proven reliability and the fact that Bitcoin's blockchain has so far held to its initial claim of being an immutable ledger.
I think this is super important and easy to miss. While the price may be volatile, everything else about Bitcoin is not. Its blockchain is arguably the hardest thing to change in the world, and that's the class it's best in.
Like it or not, being first to the party and gaining the name recognition isn't just hype, it's branding, and that will make a world of difference in what people choose to adopt, for better or worse.
Agreed.