Honestly, I just think that they don't have a legitimate product-market fit. Putting aside the economic models, what do most cryptos do beyond facilitate speculation? The overwhelming majority of the time it's nothing. Many provide utilities for speculation like DEXs, financial utility DeFi, but that all serves the broader crypto market which is 80-90% speculation. Monero genuinely has product-market fit. Do you want to pay online in the most private way possible? Monero is the best and often only option. Cash by mail is clunky, visa gift cards purchased with cash is clunky. Monero is easy. Monero also has great money qualities and great asset qualities, but it also just does things that nothing else does and it does it very well and relatively seamlessly.

All other cryptos are solutions looking for a problem. Nobody wants a shittier version of gold (I don't care what you think, a version of gold that is much less private, has a much worse track record (millennia versus decades), and relies on the maintenance of a complex computer and economic network is not better) that also leaves a massive transparent trail back to you and makes auditing you or otherwise financially surveiling you super easy. 90% of people who buy bitcoin likely don't know how important privacy is or how fucking bad bitcoin is at it. Especially when compared to Monero. Bitcoin lost the plot when they didn't build privacy in and maintain it throughout when it was still in its nascent stage.

Bitcoin came to fight a battle with the state. Monero came to win the fucking war.