You should ask yourself: what motivates MOST people to buy and hold coin X ?
if:
1) it is because they want to use it (as a currency, a contract....) for something else than crypto itself, then that's great.

2) if it is because they expect it to increase in value and sell it when it is more expensive

then it is a greater fool game.

Most alt coins are like that, but bitcoin too.  Yes, a FEW people buy stuff with bitcoin.  MOST of them buy it to hope to make profit = to sell it to a greater fool.

There's no fundamental difference between bitcoin and alt coins here.