Once the PI coin is successfully launched, what will happen to the fate of other altcoins?

Reflecting on the last listing of Trump coin, it attracted billions of dollars, causing the altcoin market to be nearly drained. This time, the PI coin is expected to attract over 20 billion dollars in capital inflow, and this huge capital-absorbing effect may have a more far-reaching impact on the market, even mainstream currencies may find it hard to escape.
Therefore, the prosperous season for altcoins seems to have become even more out of reach.
Personally, I am indeed not optimistic about this, and even feel that the launch of the PI coin is a disaster for blockchain and a disaster for the coin circle. What do you think?