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What problems with Veritas do you mean? (I ask merely out of concern, because I love the place.)
Regarding Porter's competing with Republic, I disagree with what you said. Porter's steaks are better. That alone makes them competition for a steakhouse. Their wine list is varied and has some nice choices at all price points. They seem very open to feedback.
Republic is good, but its steaks don't hang with steaks from the big name steakhouses in big cities; Porter's steaks do.
I actually think the town can support both, and besides, a little competition might help Wade up his game. His first step should be to buy a hotter oven/grill for getting that nice sear on the outside of steaks as it should be.
If you've been going to Veritas since they opened, you'll see the issues, trust me.
I don't think Porter's steaks are better, but as good based on what I've had...which is fine. I like them both
Unless something has changed, the wine list is a mess; very pedestrian selection, and the bottle list had no vintages listed...one of the top classic signs of a very bad wine list. It may not be an issue for a place like Downtown Uncorked or cafe Eccell, but sorry, a high end restaurant better have a damn good wine list (see Pappas as a prime example).
ALL that said, I like Porter's and will continue to drop cash there! And the market can totally support the two places.