Altcoins came in the shadow of bitcoin, does not mean they are inferior in terms of the concepts running them. Surely they are priced lower but price does not determine everything.
I think the question could be asked in a different manner - If altcoins could replace bitcoin, why did they not do it already in so many years? The point is that they cannot do so because it was never meant to be done.
I feel this reinforces the concept of democracy and free speech, that people are free to make a choice among cryptocurrencies which ones to use.
One of these expectations is the development and expansion of the Chinese bloc in other areas such as medicine and agriculture. Atrium, Neo and IAS are moving in this direction, and we may one day see these platforms as global giants.
I have been hearing the same thing since the days of AntShares - ever heard of it? It is the old name of NEO before it was rebranded. But now it has died down and nobody except some niche groups pump and dumps it.