In fact, altcoins still depend on bitcoin to perform exchange transactions, so altcoins can not compete with bitcoin. Conversely, they support each other for mutual development. If we want to own more bitcoin, trade it with altcoins.
Well that escalates quickly and thinking that bitcoin and Altcoins really need each other just like that, I have never ever doubted bitcoin for ones in my life, that it have many benefits but what is OP was trying to ask is have Altcoins have a chance in overtaking bitcoin just like his apprentice surpass his master?
Altcoins cannot be able to compete with the bitcoin at any time. As bitcoin has the potential to increase in the value wise and bitcoin has the Segwit and Bu to pull to show the potential to the world.
I think that ETH, Dash, Dodge has been growing in the world and many sites supports to create the new coins.
I think this is just a plan of bitcoin to fully get a hold in this value right now is because of the other coins that trying to surpass it and that is the thing about bitcoin and Altcoins coexisting with each other, so that bitcoin can be traded in even further!