Mastercoin to rule them all.
Mastercoin is amateur hour compared to what these folks have planned.
Right. Ethereum is to Mastercoin what Peercoin is to Bitcoin. 1st mover advantage will be huge.
Also, Charles said at the Miami conference Ethereum will only be traded on the open market Q3 or Q4 (autumn-winter of 2014) so those buying into this IPO for a quick flip have no idea what they're getting into and will be locked in from trading for quite a while.
Ethereum, Mastercoin, Open Transactions, even Ripple are going to partner or work closely to build inter-functionality. The community is becoming more cooperative than competitive. There will be quite a few winners.