A number of cryptocurrencies actually have burned people, either through scams, faulty tech or just lousy leadership, the centralization issue is genuine too. When a few people control too much of a project it’s simple for things to go wrong or be influenced, Bitcoin does distinguish out because of its decentralization and long track record.

It’s not perfect but it’s been lot more stable compared to other alts, PoW has its drawbacks like energy use but it’s undoubtedly more battle tested than PoS in terms of security

Still I wouldn’t claim all altcoins are rubbish. Some are striving to solve real problems but absolutely being extra careful and avoiding hype is crucial.