No. Your analogy is just not accurate. If you want to put it that way you should say rather: "and then people created coin LiteCoin, DogeCoin, DarkCoin, PayCoin and dozen other coins and any of it didn't kill bitcoin". This is the analogy we are looking here. I fear than IBM might create something that will be just another sophisticated altcoin with maybe better code or some upgrades and of course with full blessing of US government and Federal Reserve System.