If someone creates a ALT coin to compete with BTC for first place, I think eventually that ALT coin will get there.
Have you seen how many alt coins there are? Currently there are
1612 altcoins according to coinmarketcap and see the marketcap of these altcoins. Is a very low marketcap, see the use of these altcoins. you will see that more than 50% of these altcoins have no use, they were created only for certain dev to become rich, nothing more. And we have the issue of decentralization, the altcoins are centralized, the dev control everything. is as if they were a gang. so it's much better to use bitcoin than to use an altcoin.
You're right Slow death and this was the same thing the Chinese trying to do when they supported NEO and EOS while they posted FUD about bitcoin. People seems not to get it that bitcoin is not just an ordinary crypto currency.