That wasn't the end of altcoins, but right now it's even more bad for the altcoins, almost all top 100 coins are at more than 90% drop from there all time high. And the condition is even more worse for beyond 100+ ranking coins.

I think this was much needed as many projects with no working product gained huge gains during bull run, which made many people to start investing in them. It's good for the entire crypto space in longer run, it will tske fake or non performing coins out of the equation and only good projects will remain