because litecoin brings nothing significant to the table that bitcoin does not have.
+1
That is a poor argument. The same could be said about Hertz vs. Avis, or AMD vs. Intel, or Coke vs. Pepsi.
What Litecoin brings to the table is that it is a viable alternative. That doesn't count for much (as shown by the disparity in values), but it does count for something.
Litecoin is a couple years behind bitcoin in adoption, and it will be a tough road to mass adoption because it will always be overshadowed by bitcoin. I don't know if it will succeed or not, but I think it will.
the Bitcoin/Litecoin is not the same as AMD/Intel or Coke/Pepsi. There is a difference between AMD and Intel, and that difference is
significant enough to actually make them competitors. Bitcoin and Litecoin is also different, but they are not so different that it matters. Therefor because bitcoin is biggest, Litecoin will die out.
If a altcoin be able to coexist with Bitcoin, it most be different enough