People have created hundreds of “bitcoin-like” tokens. Go look at coinmarketcap.com. They aren’t fungible with Bitcoin though. It seems Bitcoin has maintained much higher demand due to its first mover advantage and network effects. The other coins don’t seem to offer a compelling reason to pay the very high costs of having everyone switch over.

I think it is sort of similar to why gold stands alone among the precious metals as the biggest one that people hold onto purely as a token.

I don’t really know what the long term picture is though. Or whether Bitcoin and friends are a “good thing” at all.