It does not make sense to suggest that there is an upper bound to the speed an object can have in the universe. It just doesn't make sense, even if this speed is 1m/s or 100m/s or any arbitrary number.
Why doesn't it make sense? The universe is weird, and if we can show experimentally that it behaves in a certain counterintuitive way, we should try to bend our intuition, not remain fixed on it.
After all, what we call intuition developed in a certain "special" environment where certain conditions were always met: for example, things almost never travelled at more than, say, a few tens of meters per second in our ancestral environment.
since space and time is the same thing
This is a bit of an over-simplification: space and time are not the same (neither in special nor in general relativity), although there is a very close connection between them.
Heuristically speaking, they can be "transformed into one another" with Lorentz transformations, but we are always able to distinguish them.
More technically, the signs of the space and time components in a diagonalized metric are always opposite.
there is only one speed in the spacetime and this is just an arbitrary speed where every entity in the universe traverses spacetime with this speed
This theory is quite easily falsified: we observe things moving at different speeds from one another all the time.
Perhaps you mean to use a different definition for the word speed than the usual one (the derivative of position with respect to time), but if so you should clarify what you mean.
Edit: in a comment, OP clarified that they are defining speed between two spacetime events $(x_1, y_1, z_1, t_1)$ and $(x_2, y_2, z_2, t_2)$ as the ratio
$$ \frac{(x_1, y_1, z_1, t_1) - (x_2, y_2, z_2, t_2)}{(x_1, y_1, z_1, t_1) - (x_2, y_2, z_2, t_2)} = 1\,.
$$
Even without addressing the issue of defining the ratio between two vectors, it seems quite clear that if there is a way to define it, the ratio of something to itself should always be 1.
So, this alternative definition of speed will always yield 1.
In a way, this already indicates why it is not typically used as a definition: it assigns 1 to any path, so computing its value does not really serve any purpose.
I am going to speculate regarding the reason why OP thinks this should be the definition of speed, as opposed to something like
$$ \frac{(x_1, y_1, z_1) - (x_2, y_2, z_3)}{t_1 - t_2}\,:
$$
this seems not to jive with the idea that we are working in spacetime: we should be treating space and time on equal footing, while this clearly separates them out!
Indeed, in relativity we work with four-vectors which include the time component, and the last equation I wrote is not the definition of speed used in that context, but neither is the one proposed by OP.
Instead, what is used is the four-velocity. For a rather complete discussion do refer to its wikipedia article, but let me try to give an expression for the way this definition looks in the same notation as the other two (in the context of special relativity, flat spacetime --- GR complicates things, and is not really illuminating in this context):
$$ \frac{(x_1, y_1, z_1, t_1) - (x_2, y_2, z_2, t_2)}{\sqrt{(t_1 - t_2)^2 - (x_1 -x_2)^2- (y_1 -y_2)^2- (z_1 -z_2)^2}}\,.
$$
This still does not treat space and time on equal footing, which is about what I was mentioning earlier; the signs in the square root on the bottom are opposite, which allows us to compute what is called the proper time.
A special case of this definition is what happens when we are looking at a stationary object, such that $(x_1, y_1, z_1) =(x_2, y_2, z_2) $.
Then, the root on the denominator simply becomes $\left|t_1 - t_2\right|$, and the result we get for the velocity is $(0, 0, 0, 1)$.
(I should have mentioned: I am using units where $c=1$).
This definition seems to assign a stationary object "the speed of light in the time direction".
Let us consider a different case: an object moving one $x$ unit every two $t$ units, so that $t_1 - t_2 = 2 ( x_1 - x_2)$.
Then, compacting the notation a bit, we get:
$$ \frac{(\Delta x, \Delta t)}{\sqrt{\Delta t^2 - \Delta x^2}}
= \frac{(\Delta x, 2\Delta x)}{\sqrt{4\Delta x^2 - \Delta x^2}}
= \left(\frac{1}{\sqrt{3}}, \frac{2}{\sqrt{3}}\right)
$$
so this means moving at "$2 / \sqrt{3} \approx 1.15$ times the speed of light in the time direction", and "$1 / \sqrt{3} \approx 0.58$ times the speed of light in the $x$ direction".
This all should not be taken too literally.
It is a convenient different definition for velocity, but it does not neatly map to the intuitive meaning of the word "velocity".
There is also still a concept to discuss: "speed" usually means the magnitude of the velocity vector, but what does "magnitude" mean for four-dimensional vectors?
It turns out that computing it like $|v| = \sqrt{v_x^2 + v_y^2 + v_z^2 + v_t^2}$ does not give a meaningful result; instead, the interesting quantity to compute is $|v| = \sqrt{-v_x^2 - v_y^2 - v_z^2 + v_t^2}$.
You can check that this yields 1 (so, the speed of light) for both of our aforementioned examples.
Now, this looks quite similar to the initial claim by OP: "everything travels at the speed of light", but now we have the context to interpret it.
It does not mean that everything travels at the same speed, but instead, it tells us that the "relativistic velocity vector" we have defined is always normalized.
It can be useful to think of this in terms of degrees of freedom: the regular, non-relativistic velocity has three; one would think that maybe relativistic velocity has four but this is not the case, since the extra degree of freedom is always fixed by the normalization of the four-velocity.
the speed of light maybe should be renamed to the speed between cause and effect
Well, is it the same thing? If I clap my hands and then you hear it, cause has been followed by effect at the speed of sound, which is different from the speed of light. In fact, effect can follow cause at basically any speed slower than the speed of light.
Perhaps what you are getting at is the fact that the speed of light is this upper bound.
If so, this is a rather uncontroversial point: the name "speed of light" is conventional, but in studying relativity it becomes quite clear that light is not what intrinsically defines it; instead, it is the speed at which all massless particles propagate, and light is just a very well-known example.
Also, all massive particles propagate slower than this, so it is indeed a bound for the speed at which anything can propagate, and therefore also cause anything else to happen.