The reason why Bitcoin is the number one cryptocurrency is pretty simple: It was the first one. This first mover advantage persists, because Bitcoin quickly established the biggest support both from users and from developers. Having the biggest user and developer base maintains a strong network effect, that tends to draw in more users and developers, because the system appears attractive and is well-established as a payment system.
For any altcoin to compete with Bitcoin, it would have to offer something revolutionary new and useful, that can't be implemented by Bitcoin. Today's altcoins are mainly a testing ground for new ideas, that will end up being added to Bitcoin if they are good, leaving the altcoins that first introduced them behind (a current example for could be rootstock vs. ethereum).
ya.ya.yo!
I agree. Being first is all that matters. It is the major breakthrough. It is the original idea. The second one is just adopting the idea. And since they adopted the original idea, the first one can control the second one and the others by manipulating them to increase their advantages towards them. That's why bitcoin is the king. It holds the most important idea of cryptocurrency which others partially adopted. This only my opinion about the topic.
no, being first is not the fundamental part. if your invention has a huge potential but with many flaws it doesn't matter if you're first as it will most likely will dump. if you have searched for the history of bitcoin, you'll know that there were other various digital cash system before bitcoin and satoshi was inspired and adopted bitcoin from them. he didn't actually intend on creating a currency but just an electronic payment system at first but after many tries he arrived on a decentralized payment system. the fundamental part is your invention, what makes it unique from all.