There is some certain thread that is laughable, actually you are making a good point but the thing is that we all know that in cryptocurrency if there is no competition cryptocurrency Willie not have a long chain or last, so there must be a competition in crypto, so if they should allow only bitcoin to exist and it does not have a competitor bitcoin can never stay long as it is today, but what is making bitcoin today to continue to expand and being known to other nations is because Bitcoin have a sub coins which is the competitor of Bitcoin, so without altcoin I don't think that Bitcoin would have gotten a lot of dominance today in the market, I believe me can never die there are be a lot of new altcoin I'll be coming to exist
There will be a lot of coins coming to exist in the crypto space, but how long will they stay relevant in the market, to stay through to their vision, if not having the wrong intention of scamming people of their funds without being caught.
It's unfortunate that the crypto space has been a ground for scammers to scam people out of coins with no utility. It pains that this is happening for long that investors prefer investing in pump and dump coins, instead of going for Bitcoin for long term gains