As a long-time Bitcoin hodler, I welcome the current development of Bitcoin and find the increasing acceptance great. But the question arises as to whether Bitcoin can still be considered as money for everyday transactions or whether the idea is outdated and Bitcoin is more of a store of value option like gold than a means of payment.
Generally yes it has failed as the assets side of the technology is been priorities over the currency side which is why it seems the fees aspect of the currency isn't been worked on as much as our features that new development are been deployed often. The true is, the institutional investors and whale moving millions of dollars with just few cents or dollar won't care much about what the fees are, the fees has already been covered in their profits.
But then when you consider the lifespan of bitcoin, you'll understand why it's currently in the state it is, give it time as we're just a century into the existence of bitcoin. There's every certainty that this won't be the story in other centuries to come. The fiats system had thousands of years to it side, just give bitcoin some years and it'll catch up to the fiat system and even be a better money than the fiat system in regards to their utility.