Bitcoin scarcity question

I've been reading Broken Money and am fascinated by the qualities of a good vs bad currency and the history of how centralized banking led to our current financial problems.

I do find the argument for obtaining Bitcoin compelling from both a logical and ideological standpoint. Above all, the book emphasizes the quality of Bitcoin's scarcity: only 21 million BTC will ever be mined, the mining rate will halve after every 210k blocks are completed, and the code is designed so that a block is completed every 10 min.

I don't have a programming or cryptography background so the fact that someone could come up with this idea and create it - along with the idea of not needing third-party verification for transactions- is nothing short of genius. It's changed the way I think about money completely. Previously I was planning to build and maintain my wealth through traditional passive index ETF investing. But after learning how governments/federal reserves can just create money out of thin air (and have already done so) for the sake of personal interests and maintaining office, I'm re-considering my strategy. I think that I would still invest in index ETFs using government registered tax deferral or tax free savings accounts (I'm Canadian for context), however I would consider holding the rest of my savings in Bitcoin to avoid significant currency debasement in the future.

I had a question though about whether Bitcoin's scarcity could ever be challenged. I'm asking this because I'm genuinely curious - since the code is open-access, could it not theoretically be duplicated and another identical digital currency (let's say Bitcoin 2.0 for lack of imagination) be created with the exact same features that make Bitcoin a good currency? So now we have Bitcoin and Bitcoin 2.0... how would that affect the value of the original Bitcoin? In my mind the advantage Bitcoin has over fiat currencies is the lack of regulation (and subsequent arbitrary creation of money) making it a superior store of value. If another digital currency was created with the exact same features, would it make owning Bitcoin less valuable?