The reason other crypto could exist alongside Bitcoin was because in the past Bitcoin didn't really have defi, it was a crypto used only for payment transactions. But now with ordinals, runes and other stuff Bitcoin defi is a thing. I think this will result in the defi from others chains coming home to Bitcoin which will make a lot of other chains obsolete. So now that Bitcoin has defi yeah I think it's going to end up killing of a lot of other crypto.