Looks like the L3 is going to be what the A4 was supposed to be... A game changer. This miner could force the retirement of the Titan's and even the A4's. Of course the devil is in the details.
Will it crash the ltc price?
More hash. More coins. More coins to sell (do you think that big farms want to hold ltc after mine it? Of course not). Price will go down
More Hash = More Difficulty, not more coins.
One of the briliiant features of blockchain is that the miner's 'reward' (coin production) rate is hard coded. If more hash is added, the blockchain alters the difficulty factor to ensure the 'reward' rate stays constant (as prescribed by the currency designer when the blockchain core was compiled).
So more Hash = same amount of coins, BUT less $ per hash as Profit = reward/hashrate
Suggested reading:
https://litecoin.info/Block