But you can also argue that bitcoin is only the king because it was the first. Technically, there's nothing really stopping another coin from coming along and doing either the same thing or even better, and many coins have been created offering arguably superior tech or speed etc, but Bitcoin has that "brand" recognition. It's like why buy a Rolex when you could buy a 1:1 Chinese clone for $300, or just buy another brand that is the exact same quality but doesn't have the Rolex name on it. Rolex have both scarcity and heritage, much like Bitcoin. Tudor was a brand created by the Rolex founder to offer an affordable alternative, but both watches are almost identical in quality and both do the exact same thing, but only one has the prestige and heritage associated with the name.