So Litecoin just exactly replicates the Bitcoin price, right?

[blbec]

Is it even good for something?

Bitcoin up = Litecoin up
Bitcoin down = Litecoin down

I know that Litecoin is better in many things... But Bitcoin will be always #1, so why we need LTC?

[NUFCrichard]

No, not at all, look at the graphs.
In fact for most of the BTC rise, LTC was very low.  It is only the last 2 weeks when all of the alts have started to rise.  It was assumed that everyone took there money out of alts, to have more BTCs, and when it fell again, people would rebuy.  Now that there hasn't been a fall, the money is going back to alts anyway.