Most gets recycled, the rest used as fuel in energyplants. The real problem is the 10 countries in the world that are responsible for 90% of dumping stuff in the rivers (all in south asia and africa).
Of course theoretically perfectly clean and pure singly type plastic can be recycled, but that is something very different from post-consumer waste
but yes, what can't be recycled is epoxy (also a plastic).
For the case of PET bottles, recycling is possible if:
- products are made from a single sort of plastic with the intent of recycling - can be collected as a dedicated waste stream - are not contaminated in a way that is not easily cleaned - there are rules and regulations to offset the added costs
As all these conditions have to be met, one might as well use reusable bottles instead of recycling altogether, like we do with glass beer bottles. But then why were plastics used in the first place, as there is then hardly any advantage?