Monero is undervalued because people prefer not to have privacy and anonymity. Look at the average people. They use Android, Windows, macOS, iOS.... Which track them every now and then. The same way they use Facebook, Instagram, Google Search, Youtube.... I could list a lot of it but that is not the point here. People are not interested in their own privacy and not to mention anonymity. That's why people don't open up to Monero additionally Bitcoin is more famous. If there was an additional anonymizing layer on Bitcoin it would be a top 1 digital cash.