I have been telling my (online, because I don't know anyone in real life that even knows what bitcoin is) friends to get rid of their altcoins, because sooner or later there would be a massive bull run to bitcoin that would last months. They never believed in what I had to say. "Bitcoin maximalist" they would accuse me off.
Recently, they finally dumped their alts, which they were holding in hopes of a pump to make more bitcoin with, and simply held BTC. They have dodged the massive alt crash that has brought up BTC back above %50 of the crypto marketcap dominance.
Im not saying all altcoins are shit, but most are. It seems finally reality is kicking in amongst noobs that thought they could get easily rich with altcoins, and they are finally going back to BTC.
Your position is quite correct but the issue is in the face of difficulties that alts are facing now, there is still some element of profit making although it might look dim because if the massive crash but that does not mean people are still making money along the line. Also, one sure thing about the cryto market is that nothing is constant for long as the issue at hand now is not something that would last long. The crash happening to Alts now has been about say 4weeks which to me is still short to make a position about the fate of alts.