That's an interesting way of looking at it. Although I've kinda thought their relationship will be like different credit card companies. Each offering different perks but only a handful will be universally accepted.
Accepted most places -
BTC = Visa
LTC = MasterCard
I think it'll wind up being some combination of our views.
There will be a handful of widely accepted currencies, but there will still have to be ways to offset the huge transaction fees in place for the big boys. I love DOGE so much for this reason... it's kinda gimmicky but it's so marketable, and they're so cheap walking around with a wallet of DOGE would be just like walking around with a wad of $1 bills.