Bitcoin does many things right but it's also really lacking in some fundamental ways. It still can't be used as a form of currency. There are issues with scalability, mining being centralized, and the overall UX not being there yet. It may be easy to jump on a new project which 'fixes' all of these issues in theory but when the numbers start pouring in it'll also face the same or other issues. We've seen that play out before.
Projects take time to mature. I think there is innovation in areas which are facing problems and people are working on improving it so that it can actually be viable as a currency.