Financial institutions and meme coin advocates taking over is just an opinion, and it's not even supported by any evidence by the op, which is unfortunate. Which financial institutions are we talking about? Is it about the ETFs? They exist now, but that doesn't exclude Bitcoin in its pure decentralized form. As for meme coins, I've honestly not heard people defending them or talking seriously about them for a while.
Bitcoin is still digital cash, or at least it's still a part of what Bitcoin is. Sure, sometimes it's a more viable option and sometimes less, but overall, it still works as intended.