75% of crypto investors don't understand that projects like Solana, Cardano, Doge, SAND, XRP, Avalanche did a 100x in this recently past bull run and it will never happen again, not even 20x I believe, those who have been in crypto space since 2017 will understand what im talking about, every four years a new adjustment is always made to Top 20 lists on Coinmarketcap, new breeds will take over.
Get rid of the old stuffs and hunt for the next 100x, not a financial advice but DYOR.
The people you are referring to are new entrants to the market and they have not experienced previous bear seasons. What you said is partly true and it happened in the past, most of the top projects can't revert back to the old ATH or will be replaced by new coins with new technology, new features. But we cannot compare current altcoins with old top altcoins. Most of the old coins only focus on speed improvement, cheap fees, they are not like today's altcoins, today's altcoins in addition to being upgraded also bring many utilities, applications, technologies better. Today's altcoins are much more scalable, so it cannot be said that they are the same.
Look at ethereum, it has never become stale or superseded by any altcoin and now it can scale, improving network performance better. Existing new altcoins will have to worry if it is fully upgraded in the coming years.