Litecoin has one main problem: the devs and community have no plan how to further develope the coin. Just gamble. The price is low.
What innovation has gold and silver provided for thousands of years?
Exactly! Being true to its original core values - staying shiny and scarce.
Maybe some product or invention provided more value at some point due its innovative properties and usefulness, but stability and predictability has always won in the long term.
EDIT:
True innovation will come from enthusiasts all over the world free in their quest to figure out the most energy efficient solutions for computation. These may include advancements in electronics beyond silicon, deeper understanding of cryptographic hash functions as well as new energy sources, which will eventually find their application in other areas of human life.
Note that there is still more than half of all litecoins under the digital crust of our crypto-earth, and that's after 3 years of operation! Litecoin is a long shot, and its silver analogy to Bitcoin's gold is more or less correct.
So the price might get interesting in the future.