You are VERY wrong. There's no reason for altcoins to exist, none. The only "reason", the only idea behind them, ALL of them, is to bypass the rules of law. Everything else is just crap. That's on the philosophical side. In the practical side, the vast majority -I'd say 99%, are created with just one purpose: To rob investors. The technology is fully and permanently praised not just by the convinced but by everyone, from big corporations (IBM fully working on blockchain tech) to everyone even connected with banks across the planet. So no lack of recognition there.

But as long as fraud is rampant, obviously altcoins run out of cash available pretty quick, therefore the incentive disappears. If you want to identify a scam coin nowadays, you have only to watch one thing: How many BTC is invested in it. If it is over 200 BTC you can be 100% sure that the devs are "buying" their own coin, which means getting it for free. There are no exceptions to this rule, none. The last big draw offering, who sucked every coin left for VC were Ethereum and Supernet. After that, it doesn't make a difference what you put out there: Anything over a total of 200 (and that if it is wildly successful) is a scam. Period.

And that is why the alts are going to quickly disappear with very few exceptions. plus, there's nothing behind them. Those that look for (real) anon and "decentralized" shit or "smart" contracts, all gimmicks of no real value because they are hindered by something called LAW. And the LAW is created and paid to pursue and punish those who try to avoid taxes. Or contract killers. Or buy drugs or weapons. They (the LAW... or the law enforcers) want to control that shit because, obviously, it cannot let it in the hands of the crooks, even if many within the law are crooked also. So the idea of anything "decentralized" is an exercise in absurdity in the practical world -now or in the future- and, currently, just another scam tool -or gimmick, if "innocent"-. Same with anon. Same with "smart" contracts... when was the last time you heard of anyone being satisfied with purchasing anything or any service that doesn't have the other side fuming because it was "taken"? Never has worked in thousands of years. Never will. And that is besides the practical fact that leaving your money in the "hands" of a programmed algo is something that could beging to have "penetration" maybe hundreds of years into the future... to be quote optimistic.

I don't know if the majority of the people associate bitcoin with commodity.n If they do, that's far from bad. Personally, I see it as the best imaginable storage of value available, by leaps and bounds. As for people selling it when its price rebounds, it's called market place. And it is positive because it asserts the real value of the commodity all along. Do you think that the recent adoption -with many more coming- of BTC by giants like Microsoft and Time Warner happens at this point in time just by chance? If you do, you may be right but I am convinced that they are convinced the price of BTC has pretty much reached its lowest possible and that it will rebound and very significantly in the future, no matter -or perhaps because of them- how many people trade it and cash out the profits. I believe they are actually placing significant bets on it, all the more significant because they are -for them- minimal still, on one side, and on the other because, precisely because they are such big entities, they can afford to hold the BTC for a while, profitably, instead of being forced to convert to FIAT -for a price- instantly.

I could be wrong, of course. But I am betting on it.