Litecoin does not offer anything that bitcoin doesn't offer.
Much faster transactions. It's also much easier to update the blockchain if you have a slow bandwidth like me (1Mbps). It runs "lite" and it's convenient for people like me.
It doesn't offer too much, but it will always be the Silver to the Gold. Litecoin isn't going anywhere. For miners like myself, this just means that less people will be mining and the difficulty will go down. I'll still be making a certain amount of USD per month if I sell. But now I can make coins a bit faster, and save them a little more often for the day they eventually go back up.
The dip in price is only hurting certain investors. For those of us that mine, or want to buy cheap, it works out great for us.