I guess that this coin can replace bitcoin. Market capitalization of Litecoin will continue to grow in the future, which will lead many businesses to continue to apply Altcoin, come together with Bitcoin or will replace completely.
I don't think Litecoin can replace Bitcoin, it has only few advantages as faster transactions that are cheaper but these things only matter when the market is going crazy like it was in Q4 last year. Now Bitcoin transactions are fast and cheap, so where is the added value of Litecoin? There are plenty of coins that act only as a currency and claim to be faster and cheaper...too many.