Bitcoin's competition is only itself because it needs to surpass it's current state even more because it still in the stage of development and acceptance despite countries started using it as payment for e-commerce and commerce or just regular payment. Altcoins will be treated as underlings as long as btc exist.
One of the main reasons why altcoins always experience a huge pump and dump at the end of it all. For one thing, only coins or tokens with real life product will be found doing well in the long run and not just some wannabe shitcoins.
As the market keeps growing and as bitcoin keeps evolving, a lot of attention will be focused on this market which would affect its dominance positively and then those with products like I said will have to start trying to make their own impact to survive the alt market and stand out.