Litecoin isn't trying to compete with Bitcoin, really, but to work along with it. Litecoin activated SegWit and LN long before Bitcoin did, with Charlie Lee being one of the most important proponents and defendants of both while most people into Bitcoin where ignoring and even criticizing an diminishing them, even though Litecoin didn't urgently needed a scaling solution yet, as Bitcoin desperately needed already. And today everyone is so excited about them. Litecoin is prepared to scale, if/when its needed.

Litecoin also has Mimblewimble already, which provides even more scalability possibilities as well as privacy (on a voluntary capacity, so you can opt to use it or not). It has also done it long before Bitcoin, which will probably do in the future.

Litecoin isn't better than Bitcoin, obviously, but it's pretty damn good, in my opinion. I also thing it's good that there is some redundancy with another PoW commodity (Proof of Shit or similar algorithms aren't even worth considering) in case it's needed at some point.

The video is full of intentional misinformation about Litecoin and also about Charlie Lee, who has never abandoned Litecoin, and remains as part of the developers and promoting new ideas and projects which are beneficial for both Litecoin and Bitcoin.

But, as always, don't take anybody's word for it (neither positive nor negative) and, if you feel like it, do your own research and make your own conclusions. That's exactly what Michael Saylor and other well known bitcoiners have done/are doing.

Litecoin isn't going away any time soon.

Long life BTC, long life LTC! :-)

TLDR: hahahaha no.