But... in the crypto world, they are possible. People are paying thousands or even million times more for bitcoin than for some altcoins, even though these coins have the same features as bitcoin. Functions and features of cryptos are pretty straightforward. Elimination of expensive brokers, lawyers, and other typical middlemen. Low transaction costs. Transactions are transparent, quick, permanent, and hard to fake. Cryptos that are priced below $0.001 have all these functions and features. Why people in the crypto world pay millions time more for the same thing? Why they behave so irrationally?
I don't think that altcoin and Bitcoin are the same. They may be both cryptocurrencies but they have different blockchains. Bitcoin has more use cases than any other cryptocurrency thus, for its current valuation or price. Bitcoin is more secure than any other else that you wanted to point out. And it is far recognized by the government and the same thing why people pay for the brand of an item, the trust, and proven durability. And I do not think that it is irrational because of the stated reason above.