As Boston Fed Researchers and Bank of England explained a few months ago, a lot of these investments in bitcoin related companies are done because "even if bitcoin is unlikely to succeed, it will spur innovation".
You need to consider something here:
1. It's not true that bitcoin (a token) and the underlying technology (a distributed ledger) are inseparable. As the Tim Swanson report showed (http://www.ofnumbers.com/wp-content/uploads/2015/04/Permissioned-distributed-ledgers.pdf).
2. The pioneers are almost never the settlers. Facebook was not the first social network. Google was not the first search engine., etc.
What I'm saying is not that bitcoin will be replaced by a random existing shitcoin (those are pretty much all pump&dumps). My point is that you shouldn't take for granted that bitcoin => moon because some aspects of the underlying technology can be useful, because some people tell you that blockchain and bitcoin are inseparable, or because some banks are currently starting to invest in bitcoin companies.
Everything is possible of course, just don't take it for granted.
Do you have a quote of what you are referring to? Or at least a chapter or a page to back up your statement?
Be careful tho I said that distibuted ledger technology and a reward token are not inseparable. Because technically yes the bitcoin blockchain needs bitcoin as a reward token, the network is dependent on its price etc.