Libra is not intended to replace other cryptos, but may have the effect of creating a killer app that that pushes the rest out of the market. By providing a stable and secure means of transferring funds, it will put bitcoin and the like out of business by removing their reason for existence.
I'm assuming, of course, that Libra succeeds. It's main competition is with the mobile phone payment systems used in the third world. Libra offers the great advantage of not being tied to any mobile provider. These areas are not using crypto anyway.
Libra will not compete with special -purpose cryptocurrencies like STEEM, as the latter is currently used.
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Thank you for your comment @rufusfirefly. I appreciate it a lot.
I'm not sure about that, as people use bitcoin because of its decentralized nature. Libra will be completely centralized and dependent from the central banks, so it will loose many advantages. I personally think that current users of bitcoin will not give it up so easily.