For one, no one has mentioned Bill "The Buddha" Dickens. One of the best bass players ever.
Secondly, that story was just plain wack. Opinionated yes, understood. The first basses HAD NO FRETS, they added them later. So it wasn't some new invention to pull them off. The Precision bass was called that because it added frets, to get more precise notes. Also, the bass has been around way before guitars, at least the stand-up has been. And they were doing solos on basses long before a guitar was even invented. Also, there are myriad instruments that are higher-pitched than the ones you've mentioned, and they also existed long before the guitar.
And the same lame things you've said about bass could be said about guitar. So most of all I hope you were just kidding, because if you really feel that way, then I'm sure you must think that all music MUST sound the same because if it strays in any way shape or form (aren't musician's supposed to be creative??) then it just isn't good, right?
But to give you some credit, I must agree that there are some types of music that the bass should try to provide more bottom end & support, but the bassist just goes off and tries to show off.