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Everything you wrote above applies to only bitcoin and not altcoins, because there's no amount of knowledge that you will have to know tge right shitcoin to buy that will give your profit. Also it's impossibe to know the next price movement, so why wasting time to learn about the market, when you are only buying and hodli overtime. Newbies shouldn't invest in any coin aprt from bitcoin.
If you have this opinion, then it simply means that you are all in on Bitcoin just like many people I know in the forum who are mostly on Bitcoin and nothing else. That is not a bad decision at all but it does not also mean that there are no altcoins that are reliable and have made people successful. XRP for instance have done so well as an altcoin, giving many people big profits. What I like to consider to be shitcoins are those new cryptocurrencies that are built on nothing but hype. They usually die when the hypes reduce and that is why people lose money buying and holding them.