Yes, and one of the greatest benefits that altcions offers is being an alternative to Bitcoin for individuals, cooperate organizations and companies uses.
Altcoins are like the pennystocks, they don't really have any kind of utility and the chances of their success is little to none. The only way altcoins could offer a true "alternative" is if they were actually innovative and offered something in the real world as a "currency" (hence the name crypto-currency) instead of just some toys to be traded in the manipulated altcoin market.
So far we've had none of that...
When we take a look at the altcoins that have come to the market in recent years, we see that most of them are just garbage. Dozens of new altcoins and thousands of new tokens come to the market every day, which one of them does anything? Everyone invests because altcoins are rising faster while bitcoin is slowly advancing, but the investments made can completely lose their value after a while because the altcoin has no purpose.
When bitcoin starts to fall, altcoins experience much bigger drops, then people lose their money with risky investments