Is bitonic sort the fastest?

Is bitonic sort truly the fastest sorting algorithm for all use cases? I've heard that it excels in parallel computing environments due to its divide-and-conquer approach, but how does it compare to other popular algorithms like quicksort or mergesort in terms of speed and efficiency, especially when dealing with large datasets? Additionally, are there any specific scenarios where bitonic sort might not be the ideal choice, and if so, what are they?