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?
I read somewhere that as of August 2018 there's like 1600+++ altcoins in the market and majority of this alt are either dead or slowly dying. For Alts to survive it needs to have a real use case but sad to say many Alts we're just launch in exchange to satisfied early investors and project just keep floating and many instances the dev team left the project along with the funds they collected. Just look at exchanges like Cryptopia, Mercatox, StockExchange etc...see how many Alts just 1sat value and have no movements. This is the reality of ICO nowadays though I will say there's still few good alts that functioning and doing well which makes me believe that there's still hope in blockchain ecosystem and crypto market.