Altcoins get sold as “projects” but they’re really just companies. And the token is supposed to be your stake in one. The only problem is that a token isn’t equity. You have no ownership and no claim on anything. So you get the risk of a company without owning a piece of it. But the real misstep was trying to compete with Bitcoin. That never made sense. These are companies and Bitcoin is money. You don’t compete with the monetary layer, you denominate in it. All they did was confuse the market,l by lumping Bitcoin in with thousands of tokens going to zero. Once stocks and assets are tokenized, you can hold the real thing on-chain. The altcoin becomes a worse version of something that now exists. Once this view becomes mainstream, these companies go to zero against Bitcoin. That’s how they die.