Shiba was never really a serious coin that should be going high anyway. I hope that it goes down a lot and stops taking money from crypto investors. You have to realize that when there is money going towards these type of shitcoins, that money is taken out of crypto market for some time, and all those people who lost money will have a hesitation to get back in. Not all of them really, but most of them and that means we are missing some amount of money that could have been used otherwise.
This is the simple reason and based on that I believe that all those shitcoins that ended up not being high at all, should be gone and crash and just be zero hopefully, just so we could focus on the real good ones.
While you are right the truth is that if those people did not lost their money with Shiba then they would have lost it to another altcoin, after all those people were not really interested in investing in bitcoin at all or in other established altcoins, they want to take the risk and the potential profits this could bring, now it is obvious they are doing this without understanding all the risks they are taking, but that is their choice, so the fact they picked Shiba does not really change anything at all, since those people would have lost their money in the markets and develop misgivings about the market anyway.