To be accumulating bitcoin now is not too late. What you posted will later be what will happen. As more governments start to buy bitcoin, the more institutions will also be getting involved and also retail investors will become more. The price of bitcoin will finally get to $1 million and later above.
I would say for a national level it is not. I would say even on personal level it is not, because while you may not make 1000x return from it like you could back in the day, the only question should be "is it better than other investments" and the answer is yes. To me, it is better than any stocks, better than gold, better than any investment really.
This is why we should not be considering how it could feel like we are seeing something that is the best. If it is the best, than it worths it at personal level as well. However, if we look at it from state or even national level, we are seeing it be enough, a yearly 10-20% return is all they care about, and all they could hope for, what else could bring them that much return anyways.