BTC Elitists: why is Monero (XMR) a shitcoin?

So I've been into crypto for a while (I bought BTC for the first time in July 2017) but haven't had the time to dive deep as I want. I've heard many times that everything besides BTC is a shitcoin, but whats the downside to Monero? From what little I've read, it's the most private coin as you supposedly can't see wallets balances or any transaction you don't have the key for. So, why is XMR a shitcoin? It's really cheap for a transaction and although 30 minutes isn't ideal for a transaction to be confirmed, for 1/10 of penny and (supposed) true privacy, it seems like a great coin.

What am I missing?