The tech can be duplicated and enhanced in an infinite number of ways now. At this point, there is nothing unique about Bitcoin other than it was first.
That's similar argument to Google or Facebook stock. The technology to search or do social media has been duplicated 1000 fold yet these two companies seem to retain leadership in their niche. Why? Because it's an adopted standard. Nobody wants to switch email to some new startup Search engine that supposed to find things better than Google. Nobody wants to be on a better social media that is 10x better and feature rich than Facebook, because all their friends and family are on Facebook. Vendors don't want to accept non-Bitcoin cyrptocurrencies because crypto ATMs, mainstream businesses, and underground markets have accepted no other cryptos as a standard currency.