Cryptocurrency was never created to compete with fiat currency. They are different in nature and coexistence between them is what the world needs.

NEO, SIACOIN and PARTICL might be some of the coin you are looking for. They are low value, high risk coins but if the scenarios turn out to be positive then you are in for a treat.

It depends on what they choose to create. If the coin isn't decentralized, and they have their own blockchain then what's the point for creating another fiat currency? And if they want it to be like bitcoin, well, then it has to compete with bitcoin.

This could be a use of satire. Either ways, even if its meant to be a joke, this was a form of publicity, which can be seen as a positive scene for Bitcoin.

Its hard to predict a bull run let alone its exact arrival time. Its tiresome for all of us but isnt it better to hold on than just losing it all? Perhaps a gradual increase is better in the long run than a shady market that is so risky to invest in.