Wall Street doesn't want Bitcoin to serve its intended purpose of removing their control over the money supply. They did this by co-opting the software project with venture capital money and making technical decisions that make Bitcoin ecommerce economically infeasible due to high fees. Initially they intended to replace Bitcoin with an alt-coin whose issuance was controlled by the Blockstream corporate entity. That project failed, and wall street investors pivoted to another alt-coin called Lightning that has failed to produce a reliable payment network after 7 years of investment, all the while the BTC fork remains unusable, which they are just fine with.
EDIT: The Lightning network markets itself as an improvement to Bitcoin, but it is a completely alternative settlement network that just happens to denominate in BTC. I don't think debating the use of the term "alt-coin" is material.
EDIT: The Lightning network markets itself as an improvement to Bitcoin, but it is a completely alternative settlement network that just happens to denominate in BTC. I don't think debating the use of the term "alt-coin" is material.