None of the dapps will work on it or be recognized on it. So what is it exactly? Just a currency like Bitcoin or Litecoin? How can it compete with Bitcoin or Litecoin as a currency?

I address these issues in my valuation post and tried to put all the issues in one place that make ETC valuable. One core thing I left out is that ETC is at risk of a 51% attack like we've never really see before in crypto because there is a large based of profit oriented miners who have the equipment and hash (fungible between ETH and ETC) to short ETC and do a 51% attack with the sole result of making money on their short. They could sustain an attack for a couple days, capture ALL the block rewards, censor transactions from exchanges, sell all their own ETC as they mine, all while their short remains live. They could then stop the attack, close the short, wait for the price to rise again and do it again and again. It would take an unethical miner but only 6-8% of ETH hasing. It's on the table and it's an existential risk to ETC. What business will take that risk?