Yes, this makes sense. Bitcoin is probably not suitable for replacing every and each fiat coin in the world right now as it is and make an unique, universal coin... So another coin will probably replace it, or Bitcoin will evolve so much that it will make no more sense to call it Bitcoin. Only future will tell.
I dont think this is going to happen becasue i know for sure thast the bitcoimn cannot be replaced by an other crypto currency just becuase i know that ther bitcoin is trongerr than that.