Paypals one of the most crooked services on the planet. You have zero control of your money with paypal. Just because people are used to getting fucked in the ass by our financial infrastructure doesn't mean it shouldn't change. Paypal doesnt work fine, at all. They hold your cash whenever they feel like it to earn interest on it.

That said, bitcoin could absolutely fail, but you didn't list a single legitimate reason for that. And you didn't even mention the sole property of crypto that makes it valuable.