You were here during 2014, before many of us. I would believe that you among most of the people would have already understood Bitcoin's open-market induced volatility.
Plus what you're saying about "cannot serve as an alternative to the legacy financial system" is debatable. Bitcoin functions as well during bull markets, and bear markets, producing block after block without downtime. The Dark Markets continue, Bitcoin casinos continue, everything continues.
Between people who bought accounts, and people who gave a break, I have seen plenty of old accounts that didn't know what bitcoin stands for or how it moves, and I have seen people who had newer accounts, and they look like they registered in 2020-21-22 but they had previous accounts so they are masters of bitcoin. So, account age doesn't really show anything.
Bitcoin will always be volatile and will stay that way even at the face of inflation, but what we are mistaking right now is that FED is trying to stop that inflation, and taking the money back, and giving high interest rates, which means that the inflation will drop, and hence why the drop in crypto, whereas when every nation printed money, the price of bitcoin reached ATH.