if BTC is no longer valuable and becomes like token?
Reading through the comments, I see that many other users have explained to you what a token mean.
Whether bitcoin fails or loses its value, it will forever continue to remain a coin and never a token, this has nothing to do with its value in dollars.
I have heard that he mined 1 million btc and was hoping that BTC would have converted the entire financial system in 10 years.
IF his project fails what would he do with those coins?
First, I agree with @NotAtether that it is likely that Satoshi (who ever he is or they are) is no longer alive, it's a probability and not a certainty, might be the reason why the said mined coins has remain untouched for several years.
Secondly, I don't want to categorically say that bitcoin has grown past the point of failure, because we all know that everything is possible in this space, but like what NotAtether said, I will rephrase it to - if bitcoin fails, we all look for it's alternative and move on with that.
But another question is, what level is/are the chance(s) that bitcoin might fail?
My Answer : very slim (I don't want to say it's impossible since I don't know what the future holds).