Is the crypto market really just Bitcoin, Ethereum, and a billion shitcoins?

Hi, I'm a noob in crypto investing, but I have been reading about the tech since btc first emerged. Here are my observations:

Bitcoin is an excellent store of value and useful for moving money while bypassing current banking systems. For many people, it's a cheaper, faster and easier way to move money across countries than traditional banks.

Ethereum has smart contracts which will allow for all kinds of transactions on the block chain. People actually use it to buy stuff and services.

A few companies have their own coins like BNB which don't have much application outside of that company's operations.

And then there are just countless shitcoins. Every single one of them seems to just be another clone of the big two with no new functionality, nothing that sets them apart and no application that isnt better suited for btc or eth. Like, is there any reason a business would run with japanesedogcoin#47 instead of ETH? Nobody is actually using these to buy anything or conduct any service. The only money going into them is from speculative investors hoping to sell them to... another speculative investor hoping to do the same. Trading or investing in these shitcoins is a zero-sum game since no actual value is ever being created. They act more like collectibles rather than currencies, commodities or securities.

Is there something I am missing about altcoins, or are these all just beanie babies for zoomers?