K-1 vs Pride? Not a good thing?

Actually I enjoy competition and Pride is/ was the big fish of Japan but K-1 seems to be moving into the market and seems to have bigger pockets than DSE. Both employ spectacle and both see huge potential with MMA as a sport/ entertainment... Pride has moved away somewhat from the spectacle and K-1 has totally moved into it.

My question is K-1 a real threat to MMA and could this competition ruin other promotions in Japan such as Shooto, Pancrase, and even Pride?

K-1 has really gone overboard on the spectacle IMO epecially when they had a very legitimate sport through their heavyweight K-1 division. They supposedly have a bigger following than Pride but seem to be using Pride's bag of tricks to gain interest....

I see Pancrase finally letting guys like Minowa and Kondo fight in Pride as well as Sakurai's first appearance... does Pancrase see a threat or are they getting some kind of sweet deal/ advantage with working with Pride?

Input would be nice...