Does “Ethereum 2.0” mean the end for alternate Layer 1 coins?

We all hold some alternate L1 solutions to Ethereum (me included). But let's be honest the only reason we do is because we missed the massive run-up for Ethereum through the years and think we can be early on another coin. But is this really the right thinking?

Say ETH 2.0 fully releases in a few years but when it does why would anyone hold other L1 solutions? ETH at that point would be by far the most decentralized, secure, largest network effect and it would have low fees and fast confirmation times as well. What does any other L1 have over ETH at that point? Why would anyone use a more risky, more centralized chain to develop anything when ETH at that point is almost "perfect"?

I know everyone wants to say "ETH 2 will never happen" or that it will be delayed for many years because they are bagholders of L1s but I'm wondering what happens when it releases.