I imagine if there is a lot of altcoins, there will be altcoins that will not survive and eventually lost. Will altcoins that survive has the capacity to raise its value as high as bitcoin?
That's unlikely as all these altcoins don't offer anything which bitcoin doesn't have. As a matter of fact, most of these coins strictly follow the "live fast die young" pattern, which comes down to an initial pump and a quickly followed dump without a comeback, ever. You can see literally hundreds of these coins at Yobit. They are sitting there for ages with empty buy books at the selling price of 1 satoshi until they get delisted and utilized. And it doesn't look like an altcoin can dethrone bitcoin thanks to its own merits, though it can happen if bitcoin dethrones itself, for example, due to in-fights and strong disagreements between bitcoin developers.