At this point, the ecosystem better understands that bitcoin is the value/money chain, with a likely insurmountable network effect. Coins like LTC which are just clones with parameter tweaks offer nothing over bitcoin, and now that the novelty has worn off, and alts that *do* offer legitimately interesting features exist, the market is (finally) beginning to price the clone-coins rationally. For a coin to even potentially have longevity, it must offer something that bitcoin does not. Money and technological-protocols both exhibit strong network effects. Bitcoin is both, so a coin needs to be *meaningfully* different in order to fill a niche (eg, inherent chain privacy, etc).
Agree, and more than that I quite seriously expect LTC/BTC to approach zero in the foreseeable future. (I do not expect BTC to approach zero soon, thus this ratio is well formed.)
Parameter tweaks were an interesting experiment though, that in theory could have worked (better parameters replacing worse parameters). Now that that experiment has been run the possibility of this happening is vastly lower.