I remember a friend making the argument that Altcoins can overcome Bitcoin because they can incorporate additional features or technologies that bitcoin does not offer, to which I responded with the view that there are many factors that might make it impossible for an Altcoin to overcome bitcoin.
the thing is, incorporating additional features doesn't mean the coin become automatically better than bitcoin, bitcoin can literally do this with just the L2 alone, most of altcoins nowadays which is said to be incorporating new features, are just iterating on the same hype, basically implementing the same feature over and over again, there's nothing new anymore.
at some point, this incorporation of new features become irrelevant because it's just the same thing but different blockchain.
moreover, institutional investors trusts BTC more, because the proof of work is superior and more secure.