I think Tic80 can coexist with Pico-8. It has a different aspect-ratio screen, more memory than Pico-8, more room for sprites, etc.
True, the tight restrictions on Pico-8 makes coding 'bigger' games more of a challenge and actually forces you to think carefully about design, both functional and technical. And let's face it: Pico-8 is one helluva platform to develop in and play games (not even starting about the excellent community around Pico-8). But IMHO fantasy consoles with different specs are more than welcome, because competition in such a field as this keeps the devs on their toes. That's ultimately a plus for the end users.