The stupidity in “blockchain technology” land. But this is very BULLISH for Bitcoin. Headlines like this is an example that more dumb money will go to shitcoins, then Bitcoin. Buy the DIP, and HODL.
Cardano will probably is not the next Bitcoin because there are better options there but Cardano is not a shit coin. Shit coins are coins like Dogecoin, ShibaInu, Internet Computer (ICP) coin, etc...Because we are not merely “investing”, and if you ask me, HODLing Bitcoin is something every individual should do “just in case” you need to utilize Bitcoin’s main value proposition. Censorship-resistance. It is something you think you might not need, until you are forced in a situation that you might need it. 
What's the point of HODLing bitcoins? Do you think that if we all hodl, the value of coin will go up? Why do you expect increased demand on bitcoin in case of hodl when there are alternative cryptocurrencies? There is no point to hodl money, money has to be in circulation in order for new products to be created and for services to be done. That's how this world works and functions.