That is the one way I could see Litecoin being worthwhile; basically innovating off its differences with bitcoin. The problem is, I haven't seen any real innovation, nor plans for anything in the near future that makes me think litecoin should go up in value.
Of course it may, and perhaps there are things planned that are quite unique. But, again, it does appear to be more a 'stay the course' type of coin, even if that course has been leading downward. I wouldn't tell anyone to invest or not invest in any coin, but I simply don't see a reason for myself to invest in it.
My feeling is that the real innovation will happen on a user interface level (not just wallets but also services), rather than at the protocol level...although some things may need flexibility with the protocol's core development and if its worth making significant changes at the protocol level, then you proceed accordingly. To that end, I still think that the Litecoin developers and platform are going to be able to remain a lot more flexible and amenable to this stuff than Bitcoin. I think as a result of so much weight being heaped upon Bitcoin, it's going to become pretty inflexible...and that opens up avenues for Litecoin to explore.