Definitely, I can imagine RedCrossCoins, and religious coins. How about GPLCoins, where some (central) server keeps a list of projects, say derived from packages in Debian/Fedora, and issues coins to people by counting lines of code being committed... The non-developer users of GPLCoins accept the idea and use exchanges to get the currency.
Or even bigger - FreeCultureCoins, kind of like a global free culture flatrate. Same idea, central server counts downloads/viewer stats say on youtube or other sites, and issues coins for the uploaders. People that only consume need to buy FreeCultureCoins on exchanges. Shops accept payment in FreeCultureCoins because they like the idea.
You can also build taxation into the system, who knows. As much as some people here seem opposed to taxes, with the computers/network running the currency code, you can build all sorts of things right into it. Some successful churches are asking their followers to pay 10% of their income to the church, not more, not less. Or maybe bitcoin stays the one and only, because first-mover advantage etc. And because it's so pure has none of these things.

And no matter how many forks/clones/improvements appear, people will still trade them. They will all just show up on exchanges and then we will find out about valuation.

There will be, but they won't do well. It'll be like all the knock-offs of www.milliondollarhomepage.com. Some made a little bit of money, most didn't.