its been a bad summer for crypto's in general, but i think it will pull through. Plus lets not forget Litecoin, has been around alot longer and is more well known, it will survive.
Why? Because it is old? I don't think that follows at all. Nowadays it really has no USP, nothing to recommend it. It's not a 2.0 coin, and it's not immune to ASICs, it's just another alt-coin.
Too many holders for it to fail, I think. If it drops too low, there's plenty enough people hedging their bets it will come back up.
I don't think the world works like that. There are things that are "too big to fail", but Litecoin isn't one of them.