Or any other alt coin for that matter? I'm wondering if and how it would damage/tarnish Bitcoin's reputation as the Gold standard of all cryptos. I believe it may also affect how institutions view bitcoin, and it may even affect the idea of digital scarcity. No longer can we assume that bitcoin (or its usurper) will remain #1 forever, so how can you imagine it as a safe long term store of value or preserver of wealth? Is the idea of true digital scarcity threatened if bitcoin loses it's #1 rank?
For example, I imagine it would be like silver flipping gold's market cap, (which is practically unthinkable) however, this event would forever alter how gold is perceived, especially by new potential investors.
It already happened back in 2018 when ethereum reached it's new all time high that time, it surpassed bitcoin marketcap but just for less than a week.
So i think it's possible for other alts to surpass bitcoin but just for a moment, people still keep trust on bitcoin at the end when the market crash because they know bitcoin won't crash as much as other coins.
If in the future there is a coin that really replace bitcoin not only for a moment but in a long run, i'm sure at that time crypto adoption is already everywhere and the total marketcap would be 10x times from now.