What do any of the newer alt coins do that bitcoin does not? What evidence do you have that any alt coins whatsoever are gaining ground on bitcoin? I guess half a billion dollars of VC funding didn't get the memo 
. Anyway bitcoin isn't even the first electronic cash system to exist.
. Anyway bitcoin isn't even the first electronic cash system to exist. I am not so much referring to altcoins, as to crypto 2.0 technologies, which are much more than coins. They do quite a lot, you should do your own research and try them, I can't tell you. For one, it would be considered pumping by some, but also, you need to actually experience yourself, as well as look for evidence. I have plenty of evidence, but again, don't want to pump any certain technology here.
VCs can be biased or make mistakes, like any other human beings. If you google the stats, you will learn that most of the ventures VC invest into fail, very few of the ventures succeed, which hopefully compensate for the losses in failed ventures.