Earlier quoted context omitted.
"Crypto" is useless. Bitcoin isn't. Maximalists have been warning against this stuff happening for nearly a year now. Ever since Luna collapsed, those voices grew louder, but the yield-farming degenerates chose not to listen.
> "Crypto" is useless. Bitcoin isn't. What unique properties does Bitcoin have that makes it useful that other cryptocurrencies don't, beside first mover advantage?
Bitcoin has a real multi stakeholder maintainership, where no single party can hard fork the currency or change the rules in any important way from the ones the users signed up for. This is what people mean when they say hard forks should be close to impossible to pull off. The only exceptions are where there is absolute consensus, such as pure security issues.
Closely related to the above, the issuance model is clearly known to everyone in advance and will not change. The issuance is not the same thing as the consensus rules. That helps force stakeholders to play fair.
There is no founder or foreground representative that has an undue influence in development. Even the core developers will have to convince everyone that their changes are sound and will not change the rules of anyone's investment, and more often than not, ends up with them dropped if consensus can not be reached.
Again related to the above, there was no pre-mine. Since there was no central party, no one owned any coins before the public blockchain started. So no one could sell or promise any future winnings. There's this whole founding myth to build culture on, and npt everything may be true, but what's clear is that an effort was made to prove there was no pre-mine (someone included today's paper in the genesis block, before which per the protocol no coins can exist).
The first mover advantage does not enter this. You could start a new serious attempt at a currency along the same lines as above, but very few bother when you are competing with outright scams. Personally I believe we have to wait some time to shake out the scammers before we can see any serious attempts at competing.