If let's say I had $500 in additional spare funds to spare, I would continue to invest in buying ETH. The price of ETH is still quite cheap to buy because it is still approximately 50% lower than its ATH, for until the bullrun starts after halving will be at least x5. It may still be modest, but I believe it is easy to set this goal with ETH.
Though I can agree with you about investing on ETH, but the buyer should make sure that he will keep up with what's happening to ETH network.
The amount which is 500 is not so big, this is the reason why some are suggesting to take a look at alts and not btc.
However, if you have no time to regularly monitor the market, it is better to hold it in btc instead.
But at the end of the day, you will be the one who will finally decide on which coins or projects you want to allocate this spare funds.
As long as you are familiar with the project and at least have solid ground of its existence, you may have the chance to earn something.