Look, let's be honest. This is a direct competitor to Bitcoin. Easycoin is a currency; it front-ends Bitcoin as a currency and therefore will be perceived as a currency and therefore will be a currency. What is a currency if not perception? And Easycoin would not be a "sub"-currency in the sense that the term is misleading. If anything, it's an "over"-currency because it sits OVER Bitcoin.
If Easycoin runs to its logical conclusion, Bitcoin will become a cul-de-sac for everyone but the underworld and digi-techies (heck, we already have them)...with Easycoin being the central bank access road.
The window for Bitcoin to emerge into ITS OWN with the online mass market is now.
PayPal does not require you to have a PayPal account to pay a merchant using PayPal's services: all you need is a credit card. If Easy coin really is just a payment processor, you would not need an EasyCoin account to pay somebody using Easycoin: just send them Bitcoin to the address generated for that transaction.