Can you be more specific with your question? im quite confusing to understand what is your mean about that.
Wax could not become a better chain rather than ethereum and why? have you seen that how polkadot, chainlink, binance, tron, eos, and so many smartcontract coins have already done the same thing as wax chain.
It's not about how scalable your chain but the popularity, complexity, community support matter a lot in this case.
It's too far to be called as a competitor for ethereum.