I wonder where you go the idea that bitcoin is no longer a digital currency, If bitcoin is no longer a digital currency then what do you think it is?
Also I think your choice of topic is not accurate because I'm still trying to figure out if you're asking a question or saying it cause it's true. If your question is whether bitcoin is no longer a digital cash the answer is no, it can't be held physically like other fiat currency or gold, bitcoin is a digital currency created by Satoshi and would continue to be a digital currency whether the financial institutions or meme coin advocates have taken over like you claim, but I also doubt if that's possible cause it's the most superior cryptocurrency and can't be controlled by any government or institution.