I am on the same side of the road on this. I strongly believe that all the redundant altcoins will dry out badly, all the way till where they trade for pennies and are subject to pumps by wannabe 'whale' pump groups.

There are just a few altcoins actually doing something useful that Bitcoin doesn't, and likely never will, which is all fine since it's nice to see a well progressing crypto ecosystem as a whole.

If we look at the altcoin market in terms of the general valuation per coin, then it's clear to me that the majority of the coins are actual bubbles. I don't use this term very often, but I'm gladly doing it with altcoins as main subject.