I'd say there's always room for a product that works well. Textmate, back in the day, had to come in and compete with well-regarded software after all -- even if we ignore vim/emacs as being insufficiently-Mac, there was BBEdit.

I don't know that I'd say Sublime users are "stuck". The long beta on v3 seems to be splitting the community, somewhat, but it wouldn't be surprising if the final release resulted in it consolidating again.