Yes, other forks would exist, but Bytecoin would be the strongest coin, also the emission is 2x faster than Monero, and ppl complain about Monero being too fast (it isn't).
Yesterday I discussed about this at BCN thread...
Anyway I'm curious to see what the future deserves to this coin.
With the current price (9 satoshi) and the current coin generation (48818.11), the rewards per block in BTC is just BTC0.00439363 per block, or around BTC0.02196815 each 10 minutes. Hashrate is around 1,6 million.
I don't understand much about mining, but how this can be sustainable against attacks on the network (also you have to consider this is not just about Bytecoin, but every CryptoNight coin with merged mining with BCN)? Just to compare, Monero hashrate is now about 16 million (10 times more) and generates around BTC 0.37 in mining rewards each 10 minutes (10.7868 XMR per block at 0.00340335 BTC per XMR, or 15 times more).
This is indeed one of the practical problems with premined/instamined/fastmined coins. The mining rewards drop too fast (or just start out small) relative to adoption and then it isn't secure.
Personally, I think the formula used in Bytecoin and Monero is better than the abruptly halving schemes. Unfortunately, the choiced value in Bytecoin is bad and combined with the premine will be fatal*.
In the case of Monero, if you compare against Bitcoin, it's somewhat fast. If the current developers launched this coin, probably they would put a more slower emission. There were some proposals about cutting the emission some months ago (but fortunately none of them passed).
*The fast emission is not a Bytecoin-specific issue. Other cryptocurrencies, like Dogecoin, ixcoin and i0coin suffered from the same problem and switched to merged mining with Litecoin and Bitcoin.