It is indeed possible, but I also find that a lot of predictions about bitcoin and crypto have been based upon older paradigms. It is comparing it to non-crypto systems. So it may still be relevant. It also may be flawed. How much risk do we want to take?
I don't actually see bitcoin as a bubble.
I do see a flaw in bitcoin though. 1) It is slow, 2) The mining fees for actually USING the currency anywhere are ridiculous.
The slowness was fine as it was great as a store of value. Kind of like gold.
The ridiculous fees though make it highly unattractive. This leaves the door wide open for a competitor to replace it.