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The biggest reason why Monero cannot and will not be the #1 crypto is because it is developed to be 100% anonymous and untraceable. Lawmakers and regulators will not allow something like that to have widespread mainstream use.
Lawmakers and regulators will just legislate and regulate the on and off ramps and the service providers as they are currently doing with Bitcoin, and have done with cash for years.
Anyone who believes that Monero wouldn't be treated much harsher than Bitcoin by governments is delusional.
For instance: Dell, Overstock et al won't be accepting XMR as a payment method. At best it will be used to purchase illegal stuff.