The solution is to devise a Proof-of-Work mining mechanism that isn't so resource hungry. But then, isn't that what every other new ICO aims to do?!

If we ever chance upon a Proof-of-Work that is as satisfyingly rigorous and meticulous as is the case with Bitcoin, then and only then will Bitcoin depreciate to the status of 'toy money'. But, if Bitcoin can happily co-exist with smart contract equipped Ethereum, it may well outlive others is well!