I recently replaced Alfred with Spotlight when I upgraded to Yosemite.

Alfred feels like it was very much an "inspiration" for the new Spotlight but as is often the way with little helper type apps, if it's good enough, sooner or later it will get rolled into the OS.

The business model Joel Spolsky referred to as grabbing nickels from the path of an on-coming steamroller.

I haven't looked a lot at Yosemites spotlight, can it do custom workflows? I've make Alfred ping multiple devices for sub-second status, create files based on input>bash script, close apps and so much more than that. I've completely replaced my snippet/text-expander with Alfred (just need a basic one anyway) and the fact that it can be semi-infinitely extended (scripting etc) is a nice ground to stand on.