https://bitcointalk.org/index.php?topic=196138.0Here is 1 good reason why Litecoin is needed. Bitcoin already admits it is not a preferential coin for small transactions. If Bitcoin ever did become the million dollar coin everyone would like it to become, your morning coffee purchase would not be able to transferred due to it being dust. LOL at people who figure Bitcoins can be down to the satoshi level. If/when the bitcoin network gets even busier, they will have to knock the dust down to an even larger factor.
Another reason Litecoin might be hyped is because it's not Bitcoin. That can be a huge bonus right now while the US Gov't seems to have the Bitcoin network as it's main target.