What do you think about this consideration?
What is the market for microtransactions? For machine-to-machine transactions? Smart contracts? I would put that at trillions, so a lot of room to move, even if it doesn't capture the majority of the market. I think your analysis is based on greater fool's logic, which is simply how many greater fools do I think will latch onto this project in a pump--by that logic, anything in the top ten doesn't look appealing.
IOTA is not a crypto-currency, or well, if it is one, it is a bad one, because as OP pointed it out, the total supply is way too big. However as a micro-transaction tool, it is good, because the transaction cost is really cheap.