If anyone corners the bitcoin market with a dedicated hardware solution you could make a small change to the bitcoin protocol to bring them down and return it to the people.
In the past when anyone corners the market in anything the price collapses anyway because people seek an alternative.
Exactly.
That's when your Litecoin (etc.) would take off. We're not forced to stick with Bitcoin. As long as it's the best thing out there, people will by and large stick with it.