I have never seen any altcoin trying to compete with bitcoin because in the end if this is likened to a caste system the actual difference remains very different because bitcoin is the king and altcoins are only able to follow not rival.
That is a definite condition because since I have known crypti no one can really compete with bitcoin as a whole because they will not be able to.
Saying bitcoin is dead is just one of the alibis where those who can't get bitcoin at low prices and they start trying to attack some weak people in holding bitcoin to sell their assets.
I consider ETH to be different among the altcoins that we usually think about. But of course, Bitcoin seems to be the leading coin in the crypto space which allows a holder to earn a profit, unlike those project that looks promising, raising millions during pre-sale but has no substantial to continue growing. This is the reason why we become confident of accumulating Bitcoin despite the risk because of such profitability features that most altcoins don't have. Though I invested a few altcoins, still Bitcoin got huge chunks of my investment capital.