You mean like how Diablo 2 was like Diablo but worse? :-D
There's some rivalry between Torchlight series and Diablo III since some fans consider Torchlight the true successor, seeing that Torchlight was made by some of the key Diablo II creators while Diablo III was mostly a newer team.
IIRC there were half a dozen people on the team at Runic from Blizzard North, and that includes Matt Uelman who isn't necessarily a "developer" (at times folks seem to ignore the artists when referring to developers) as he handles the music. I said were because Erich Schaefer and Travis Baldtree are leaving to make their own company and games.
Also, much of the World of Diablocraft vs. <game> focus has shifted from Torchlight 2 to Path of Exile. Not only is Path of Exile more prominent on this site at the moment, but the art aesthetic is much closer to what many people wanted from another Diablo game.
If Runic releases a Torchlight 3 and it continues their quasi-parallel with Torchlight/Diablo and Torchlight 2/Diablo 2 the comparisons might start up again, but as last I knew Runic was working on a different IP (or at least game) so any "Torchlight 3" game probably won't be out until there's some other ARPG to compare it to. --- Logic is the antithesis of faith, else why is it that faith defies logic while logic denies faith?