I seriously doubt the amount of stupidity and greed has waned, it's just waiting for an excuse to emerge again. I couldn't believe the insulting shit that was happening in 2017. I fully expect to be flabbergasted again.
I don't think it'll ever be as manic again but things will move despite almost all of them being empty junk that has achieved absolutely nothing.
The 2017 alt bubble kicked off when the Winklevoss ETF was denied. That was alts' signal that Bitcoin wouldn't be fully legitimised over them. This time around Bitcoin really is being legitimised in a way they never will be but it's happening in slow motion instead.
There are always new investors, whom will be trapped into manic market, and even old investors whom have not yet really learned any lessons from their past failed investments, will do fall into their past steps and mistakes again.
What happened with altcoins in 2017 is not their first time, right? In that year, old altcoins woke up and moved to their past all time highs or set their new ATHs. I meant they repeated their price movements in 2017. So if bitcoin actually repeats its history, why not altcoins repeat theirs, for the third time?
I agree that it is hard for them to set new all time highs in alt/btc pairs, and if such amazing things happen it will occur only for very good altcoins (good developers, good usecases, and strong communities - that will boost their price when active flags come.