It's no way that Bitcoin will become a boring investment, the fluctuations of the price gives a lot of opportunities for people to make profit, but I see the enthusiasm of Bitcoin is slowing down, I think this is the cause of alt coins, but Bitcoin still one of the most traded crypto
You are right that the main reason why Bitcoin price is not quick to rise just like the old times is because too many altcoins are already in the market with a good volume. OP is just to naive to consider that if BTC will distribute to all people then it will be stagnant since no one will want to own more which absurd. The main goal of BTC is for mass adoption and it is the exact thing that OP mention.
Imagine if everyone owns it. There will be scarcity in the supply which will result to a huge price fluctuation. I hate to see same as OP analysis especially when creating a thread without further research about it.