It's because it's not a free market. It's controlled by billionaire hedgefunds with the ability to fabricate shares/pump and dump/lie cheat and steal. They drive sentiment with their massive amounts of money and the tech behind the cryptocurrency or "how good" it is doesn't enter into the equation for them. They've been doing this for decades, to the detriment of society, by virtue of bankrupting good companies and potentially world-changing companies, all in the name of greed. This is why it seems strange when objectively better cryptocurrencies aren't adopted. It's manipulation.