Maybe this is not the extent that things are happening these days, but it is sort of the direction we are heading to. The lovely thing about bitcoin is its capped supply limit, which will ensure that bitcoin retains its value while its popularity is growing at the same time.
That would only be so if it were the only currency, and production somehow managed to at least sustain. The first seems impossible, while the second isn't likely if the first happens.
The limited supply does help its speculative value atm, but the "cap" is only there for itself. We are without limits when it comes to alts popping up.