Yea I believe alt season is not a real thing but people rotating bitcoin into the new shiny thing is.
I think Initial Coin Offerings (ICOs) in 2017 was the first major "alt season" and we have had different iterations of it ever since. E.G. ICOs, NFTs, Meme tokens, stocks that buy crypto, etc.
Something else will happen like alt season, it is my opinion but I am convinced of that. But front running people before something gets the shiny factor is probably impossible to do forever in a profitable way.
If it is profitable to do forever, I am haven't figured out the formula yet.