This is not to say that altcoin investment is bad. Each investor needs to evaluate their own risk vs. reward ratio and decide whether that’s a good fit for their goals. What is clear is that altcoins are actually not a great hedge against Bitcoin. Much of the same risk exists in the altcoin and much of the potential rewards consumable by Bitcoin.
It’s possible for an altcoin to take over Bitcoin, but it would have to show far more (present, not future) utility first and be able to grow itself to be competitive with Bitcoin’s network before the Bitcoin ecosystem has a chance to add the same feature.