Yes it could happen but i doubt very much it will happen the short to medium term, to actually make bitcoin obsolete would be a achievement.
Anything could happen on the digital platform in Future. Day by day this cryptocurrency is becoming very popular and useful in the virtual platform, so credit should go to Bitcoin regarding popularity and acceptability. But one thing we have to keep in our mind that any cryptocurrency would be more popular than Bitcoin. if this thing would happen then I will not be overwhelmed or surprised not at all. Day by day many things are going to change so this trend can also be changed in Future.