Transactions need to be faster. can't have this hold up. Other currencies will take over?
Bitcoin is the only crypto actually being used for anything. Nothing else is coming within a fraction of its capacity being strained. The fancy claims made by faster alts may instantly fall apart if they were subjected to actual ongoing and heavy usage. But I'm not convinced any alt will ever be put to the test in that manner.
You must be right with one good and simple example of having quicker block time.
Bitcoin is having 10 minutes gap whereas many altcoins are having fancy less than minute gaps. Quicker block time will lead to support double spending as network will not get enough latency to have all the information of all transactions happened between blocks.
More abusing by double spending will be the problem they are going to face whereas bitcoin's future is bright as it has all the features to withstand any heavy usage too. (block size also will have its feasible solution soon).