I think it needs some competition. The amount of alts out there now is too many though in my opinion.
We have too many altcoins but at some point those altcoins are going to disappear once it stops being profitable for people it invest in empty projects, this is going to happen once we got more adoption and only the projects that have some real world application begin to make a fortune for those that invested early on them, so do not worry and invest in good projects and you will do good in the future.