Big alts are buying bitcoin and using it as collateral, or wrapping it, or using it as part of their defi shenanigans.
Alts used to exist independently to compete with bitcoin, now they're drag it along with them and screwing bitcoiners.
I would say otherwise. When big alts are buying bitcoin and using as collateral, it shows the power of bitcoin to become the reserve store of value within the crypto ecosystem. That's good for bitcoin because the demand stays strong. They could have purchased any xyz cryptocurrencies but instead they are buying bitcoins to back themselves. It's a positive! How it can be considered as a screwup anyway?