Alchemy is way cool, I agree. But, there's another thing to consider, in addition to what everyone else has already said. The biggest ritual users right now are Clerics (who get Ritual Casting for free and a free ritual book) and Wizards (who get Ritual Casting, a ritual book, and several free rituals for the rest of their lives). That's a lot of free stuff, and it's certainly enough to make rituals more appealing to those characters. I'm sure Druids will have something similar, and other "primary spellcasters" (to use a 3e legacy term), or classes that have some controller-ness to them will continue to get free Ritual Casting, to reinforce that niche.
Nobody gets the alchemy feat for free. So far, of course. Artificers are probably going to get it for free, which will make them the alchemy masters just as Wizards are the kings of rituals.