Never have we seen altcoins vastly outperform ETH.

This is a trend we've never seen before in the altcoin market. Most of the Altcoin market is outperforming both BTC and ETHEREUM whilst the market is a down-trend the only major difference between 2022 and 2018 is the stable coin market cap. I couldn't give you a reason as to why this is happening, perhaps the ETHEREUM bubble and BTC bubble is larger than a lot of major altcoins.