BTC dominance is sinking and sinking.
I don't really like this.
Altcoins are thriving just as before the crash and it gets worst.
Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge
Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.
I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.
Market cap and bitcoin dominance can be a misleading indicator for all the reasons that you already stated... so in that regard, people who understand the value of bitcoin are going to realize that bitcoin is the one to buy rather than gambling on those many other alt coins - and useful also NOT to get distracted by coinmarket cap, at least in terms of informing you about the dominance of BTC's fundamentals in comparison to any (and all) of the other coins.