It can take a long time to overcome first mover advantage. Being first and network effect often results in long term rewards far out of proportion to quality of the current technology.

When was the last time you saw IBM do useful innovation? Their market cap?

When was the last time you saw Mr. Softie do useful innovation? Their market cap?

When was the last time you saw Cisco do any of its own internal innovation? Their market cap.

Sure. BTC technology sucks and is outdated per the current "hottest" ideas.

But being first gives you a lot of room in the market to be mediocre and still exist.

Until eventually of course if a company refuses to do ANY INNOVATION WHATSOEVER, then the company will slowly die off.

Don't believe the scribe above? Go make a Xerox and read it for additional clues.
And if you don