In terms of all parameters Bitcoin is still the king and it will remain the king. It's the first coin, it's decentralized, it moves the market, it's scarce, it's valuable, it's unique, it's easily available with huge liquidity pool. It's the best of the best, and there's literally no other alternative of it. Bitcoin is and it will always be the king of the whole crypto market.

If we have to compare bitcoin for it's Kingship, there is no coin that matches it only one altcoins have been able to hold one features of bitcoin more than bitcoin itself, which monero- an extreme privacy coin but when we have other features bitcoin is the king as we have known it.

In terms of scarcity, I'm afraid in future if we will be able to have large portfolios as institutions, governments etc are going to hold it good part of it and even make it more scarce that it is today. Limited supply is one but the new phase it have achieved is also another fact.

I never revealed where I invested and how much I have invested. It turns out my Bitcoin investment is the only thing that still kept me alive on the crypto currency market. I have been tracking my portfolio for a while now and today I noticed that I would have been in 33% more profit if I wouldn't invest in altcoins aka Shitcoins. The best performer in my portfolio is Bitcoin without any doubt and I would have in a good profit.

Let's say I got a $3K profit just by holding Bitcoins, but since I invested in altcoins as well, my overall profit is now $2K because I am in loss with the altcoins investment and some of those shitcoins are 99% down which is basically scam coins.

So, I believe the overall picture is good enough to agree with your point that Bitcoin is really scarce, which is why the demand increases, therefore the price goes up.

There's no other coin in crypto to stand the chance of Bitcoin, so this alone makes it a unique one that is scarce, because no other like bitcoin.

Bitcoin is indeed a scarce commodity because it's price is not fixed, it's volatile and also high in demand as it increases in value over time, this makes it more of a scarce commodity because you will either have to buy it, earn it or mine it as all it's supply are limited, shitcoins are cheaply seen and high promising, this alone is a red flag that they are of extreme high risk, but despite bitcoin scarcity, it is also readily available for another interested to invest.

The things is that, we have just one Bitcoin and ever will it be but there are countless number of shitcoins with empty promises. Let's say we have one Bitcoin and there is only one shitcoins, people might want to give in some believe and hope that one day, it might do well but every year, shitcoins just keep getting worse in term of utility, in term of teams and also tokenomics. Why would anyone treat a coins with trillion of supply, like are you creating a coin for Jupitar aliens 

Bitcoin has just 21M supply, some part of this supply is in circulation and many of them are loss, like they can never be accessible again, not in this life not as private key remain a criteria to have access to Bitcoin. Some of this supply are been held by Satoshi worth billions that no one knows if they will be move or not. We don't talk about how people trust Bitcoin more than any shitcoins, even with the hype and marketing of shitcoins, Bitcoin has none and yet the biggest and most respected.

Even some altcoins have a limited token supply that they created for their project and yet the projects still die after struggling for some few years. Most of these projects owners are not creating altcoins because they want the project to succeed like Bitcoin but they are creating those project to become a major benefactor of the projects. So many altcoins project have run away with investors money after they were done with their token sales and there's no altcoin project that have really done the kind of decentralization that Bitcoin did (monero excluded). So, there's no way altcoins cam measure the success of Bitcoin.
 

Bitcoin is king in all aspects.

Devs (if I can call them that) these days launch tokens for profit and then repeat that over again pulling rugs on investors each time. There is a possibility that a new innovation can come up and actually elevate the purpose of the blockchain, but the noise around with all shitcoins drowns out everything else.

- Jay -

depends on the shitcoin
some have buybacks and burn programs
some have limited supply

but you are correct in the idea that bitcoin is superior and nowadays it is really hard to find assets that beat bitcoin performance over the long run

No, it does not work like that. There is Bitcoin and there are altcoins. Each new "competitive" altcoin is diluting the existing altcoins, because most of them do the same things. ETH does not exist in its own bubble, when they made Solana and other competitors they diluted its relevance. As they continue to spin new altcoins, no tokenomics will save them.  

There is very little innovation in altcoins. They have stopped being about tech and are now only a money game, because of that most things are at least partially fake. How many altcoins call themselves the most scalable and decentralized blockchain, even while they require expensive hardware for you to run a node?