As much as you are right, do not forget that alts have complimented and still compliments bitcoin, and have help in shaping the crypto industry to the success it has achieved today.
Without alts, you think any of us coming into crypto newly will be able to afford even a transaction fee on the bitcoin network? (minus those who are already millionaires before coming into crypto), you have to understand that Bitcoin network lack scalability and any little thing, the network will become congested leading to really high transaction fees, now, imagine there were no alts, and that the hundreds of millions of people in crypto today are all buying and selling bitcoin only,
1. Imagine how congested the network will be.
2. Imagine how high transaction fees will be.
3. Imagine how long you would have to wait for a transaction confirmation even after paying thousands of dollars in fees.
Altcoins aren't shit, they are just more risky to invest in, and know it well that your level of risk appetite is not the same as everyone else's, some people simply love taking more risk for more potential reward.
And some people invest in alts as a way to diversify after having invested a lot in bitcoin.
So, don't see every one investing in Alts and memecoins as being stupid or foolish, we all have our different investment strategies, and there are different ways to make money, we mustn't all follow the same way and pattern.
Yea, you are actually right, everyone is entitled to do what ever they want to do with their hard earned money, but it's very unwise doing the same thing over and over again and be expecting a different result.
Just imagine if Bitcoin dip up to $70k, I am quite sure that some alt or meme will go up to zero.
You u can risk your hard earned money if you wish to, but it would be very wrong to drag others with you to abyss.
Yes it's actually true that the transaction cost is on the high side anytime their is a network congestion, but that doesn't mean that Bitcoin will be unable to flourish without alt coin, because if Bitcoin is the only coin available in the market, don't you think that those of us holding it now would be a millionaire by now? Because everything will be channel into Bitcoin and it value can go up to a million dollar overnight, so Bitcoin will still flourish regardless of the presence of alt coin or not.