I actually feel that several of the other alt coins out there may have more potential than bitcoin even.  Litecoin for example is almost identical to bitcoin fundamentally, but can be transacted in 2.5 min to bitcoin's 10.  I also personally feel that alt coins with higher market caps may fare better in the long run, as they will run into fewer psychological barriers associated with high unit price.

That's not to say that the market isn't oversaturated with cryptocurrencies.  We need to see several of them fail.