Who exactly do you mean when you say "almost everyone is aware of Bitcoin"? Are they regular investors in stocks, gold, bonds or similar things - or do you think most people in the world generally know about BTC?
Hearing about something, knowing something about something, and understanding something are completely different things.
Even in 2017 a lot of people didn't know what Bitcoin was, but now regular people see it in on their news regularly, because mainstream media reports about big movements or some interesting stories related to it.
Of course there's still a huge room for adoption, but the novelty factor is not the same as before.
I think you countered your own counter argument there though. Bull runs, are expected somewhat to slow down, in terms of the amount of people buying in, and the longevity of them. In theory, as more people invest in Bitcoin, the more it should become stable. the longer, and the closer we get to the limit it shouldn't be so volatile. This is helped by the block rewards being reduced as time goes on.
From a point of view of hodler, it would have been better if the magnitude of bull cycles slowed down later. It's still so volatile that most people aren't ready to use it as a currency, so why not hope for bigger bull runs while we're at it?