It's always possible that another cryptocurrency could overtake bitcoin as #1, but there's only one altcoin that currently exists that could possibly do that and I really don't see it happening. Another cryptocurrency could be invented and possibly overtake bitcoin one day, but bitcoin is currently the most secure, most decentralized, most valuable, most adopted, and most fairly launched cryptocurrency that is currently in existence, and it also has the biggest infrastructure.
I do not think there is ever going to be a cryptocurrency that surpasses bitcoin, as you say there are too many factors in favour of bitcoin not only from the point of view of the technology but also from an idealogical point of view that this is a no contest, the only way in which bitcoin could be surpassed is if in the future another satoshi appeared and created a completely revolutionary concept that was not a cryptocurrency and that was way better than bitcoin, but the chances of that happening are astronomically low.