It's not saturated. Let them battle it out. You cannot be 100% certain that Binance will remain the top exchange in the next 10 years.
Years ago, I never thought Poloniex would be displaced by Bittrex. This is just proof that anything can happen. You never know.
So battling it out means we should all tart establishing all manner of exchanges that will make the exchanges becomes more than the market itself? It is this battling out idea that made poloenix lost. When Poloenix was reigning, there were little exchanges around to battle it with them, and until we started having too many exchanges that took their users that they became weak until Bittrex and binance came to topple.
So I think the exchange market is too saturated for now and we really need to see less exchange, if it is not saturated, why are we having people separating good exchanges to bad ones.