Low volatility doesn't mean stable. Bitcoin has experienced periods of low volatility many times, however this doesn't mean bitcoin is stable, not even close. We all know it doesn't take much for bitcoin to explode, either up or down. That's absolutely still in the cards, I mean everyone is waiting for the next bull run and some people are waiting for a big crash.
It's like saying, this bomb is stable because it hasn't exploded yet.
Sure, bitcoin is always unstable. I don't think people think that bitcoin is stable.
Yes you're right, one of the qualities of bitcoin is that its volatile, and it will never be stable. If its going to be stable then it's not bitcoin anymore.