yes and in the context of how small the initial crowd of bitcoin adopters was, 99% of current cryptos fans should almost consider bitcoin premined/instamined.
Bitcoin and Litecoin are in the same boat, the general public can't participate in either one. IPO coins are mostly junk because they'll never have the market penetration required for a currency to function. The second ASIC are created, and off the shelf hardware becomes irrelevant, PoW coins inherit the same problem. The only motivation people have to get into those digital currencies dominated by ASIC is if their existing currency (USD, Euro, etc) collapses.
Have you ever purchased an ASIC before? I have, it's a nightmare. It's been like that from the start and still exists years down the line. Even if you buy from one of the more reputable dealers like Bitmain, their (fifth generation???) S5's have some bug where they cook themselves to death after losing internet connection. Depending how many you own, there goes your several hundred or thousands of dollars in investment if Comcast suddenly decides to do maintenance. The funny part is, this is your best case scenario for problems you may face when dealing with ASIC purchases, things can get much worse.
It doesn't matter how smart or stupid you are, anyone trying to get involved with mining coins tainted by ASIC can get burned with ease. So you're going to tell me, well, don't mine then? Mining is how Satoshi designed the coins to be distributed. You're not supposed to be forced to buy them. Telling people they have to buy them is just admitting the system is broken or failed and that large scale distribution will be a huge problem or not happen at all.
Thus, you just have to sit around and hope the USD and Euro crash to nothing, which might bring a new global dark ages and make digital currency useless anyway.
Not only because I hold more LTC than BTC (who doesn't?), but China will set the markets very very soon.. 
