Yes, the competition is really big right now. As you correctly mentioned, probably the main problem of Bitcoin is that the number of users will be almost at the same level ... but how to solve it?
There is only one way out (really banal) - not to think about it. At the moment, Bitcoin for me is an anonymous means of accumulation.
I don’t notice problems with speed, cost of transactions, and even more so with BTC recognition - almost all my friends know what it is, some use it, others don’t.