I just posted this in another thread about this Litecoin transaction. I will quote it here because it is relevant.
This transaction is worthless as a measure of it being a good coin. Just as big transactions are a worthless measure for all coins. How often do you think people are transferring $99 million? Exactly. I want to know how much the fees are when I pay $1 for a hamburger or $2 for a coffee. If the fee is still $0.40, then that's 20-40% of my payment, and your coin is useless.
We should be judging coins on their speed and cost for small transfers, not large ones.
Litecoin is a good coin for a number of reasons, but it is not making Bitcoin obsolete as OP claims.