Hi
The reason Presta valves dominate in cycling now is because they offer several advantages over Schrader valves. Presta valves are actually more durable (Schrader valves have some plastic parts) and weathertight (Presta valves are sealed when you by screw them shut. Not an option on Schrader). Presta valves also take a smaller hole in the rim and this offers better rim strength. This is especially important on skinny, light weight rims you see on road bikes used for racing. The same smaller holes and thin profile of Presta valves make them easier to seal when going tubeless, now that tubeless is such a big deal. No option for going tubeless with Schrader with bike tires, at least at this point. Cars, of course, have been tubeless with Schrader for an eternity.
I think the biggest reason the industry went to Presta, though, was when high pressure tires in the 80 to 110 psi range became common. (Cars and motorcycle tires don't go that high.) Schrader valves in the old days were notorious for not doing a good job of maintaining tire pressures that high. Presta did much better. That said, I think current Schrader valves are much improved in that regard, now. I have a recumbent trike that came with Schrader and the Schrader do a pretty good job of holding air.
The good news is that all bike pumps I have seen now take either kind of valve.
I still like Schrader valves, though, even though most of my bikes and trikes use Presta. I appreciate the convenience of Schrader valves when it comes time to fill tires. In the sometimes bitter cold I ride, it can be a pain to unscrew that little presta valve with cold fingers.
Personally, I think Schrader valves are more than adequate for so many bikes, now, but the industry has gone Presta in such a big way that it's actually hard to find a bike spec'd with Schrader, now.