Are alt coins done?

I've been in and out of the crypto market for 8 to 10 years, and it seems to be the case for alt coins is showing less and less promise. I remember when every idea you could imagine, defi, information profit sharing, storage sharing, etc was made into a coin, but it's been quite a while now, and out of thousands and thousands of alt coins, it seems like not a single one has been able to bring any real value to anybody holding it.

Am I wrong? Are there cases that people still hold hope for? How can coins be valuable aside from being a store of value. Is the dream of crypto functionality gone?