I'm not so sure of that. I believe that the dominance metric is taken way out of context---people first claim it's useless when Bitcoin's dominance is low, then when it's going up they start celebrating and trash altcoins.

I know a lot of people want to see altcoins vanish from the market, but that's not going to happen, regardless of how little utility they bring to the table---utility people never cared about with how they only focus on massive pumps.

If you ask why people trade altcoins, in most cases they will tell you to increase their satoshi count. The way altcoins pump and dump makes it very lucrative for traders profit. All they need is a chart. Utility is meaningless.