What if Bitcoin fails at some point for whatever reason? Hack, founder turns out to be North Korean dictator and owns millions of BTC, whatever. That is why I said it can increase in value if.... It is often stated here as if there is no way around Bitcoin going to the moon. If that was the case and a guarantee so to say, we wouldn't be at $50k anymore. That expectation, or guarantee as it is often put, would have been priced in already, sending Bitcoin to the moon and beyond.
Trust can overlook failure.
Bitcoin has failed at some point mainly about its primary function for reasons of scalability. As in the OP, that over time people have started to have doubts that bitcoin will be the first option of payment instrument because it is no longer meeting the efficiency of retail-scale and considering its rarity.
This failure still can't shatter people's trust that bitcoin should be a top priority to invest in, even if other developers are starting to offer altcoin solutions with more scalability that are friendlier even those that are printed in smaller quantities.