That is all true. However, for more than a decade, it held a fair bit of the "value" at least as expressed by market cap. Even as recently as the end of last year it was over 70%. Thus, even though there is a low barrier to entry, the rest of the stuff was not getting a lot of attention.
That will change in the future I believe as utility starts to enter.
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Oh absolutely... the entire blockchain space will always owe Bitcoin a debt of gratitude and you're completely right about the dominance it's held in the past... but the rate of innovation is so high in this space that it cannot continue the rate of dominance it's previously held... there's just too much going on in so many different areas (NFTs, defi, etc).