That's a big "NO!" Bitcoin will not be replaced,if even the ethereum will not be the next to replace bitcoin,how about that litecoin?! I believe that bitcoin will remain on the top rank over other coins at long lasts.
Bitcoin cannot be Litecoin and Litecoin cannot be Bitcoin. Those coins are apple and oranges.
litecoin is a great project and i believe in it but still i see no reasons to compare it with bitcoin and any other cryptocurrencies