Doesn't the lightning network solve the problem of bitcoin transaction speed?

I've been looking into crypto a lot for the past few weeks and one of the things I've noticed about bitcoin is that while it's a good store of value, it's not the best day to day currency as bitcoin transactions can take a while. I've even seen this used as an argument for why bitcoin will fail in the coming years. But isn't the lightning network a solution to this problem with practically instant transactions? And if so, shouldn't it be more popular or am I missing something?