Ethereum will dominate the smart contract business. Don´t worry.
Counterparty is not the only competitor, don't relax too much...
I think NXT has the same problem. Blocktime.
But if it comes to NXT vs Ethereum, then I am on the winning side anyway.
But smart contracts on the Bitcoin blockchain with 10 minute blocktime can possibly handle 1% of all possible features. That´s just nonsense imo.