Yes ETH is a centralized shitcoin and a mess in so many ways, but nobody seems to care about that. The attitude is "well they'll solve all those problems with future updates". Maybe they will, maybe they won't. Either way I don't think it matters. ETH has their network effect, just like BTC does, there will be no ETH killer, but with all the extra shit that is flooding their network as time goes on, how could it not beat BTC, the digital gold that everyone just hodls but doesn't do much else with.
I won't be investing in it, but also don't want to be disappointed when (if) it does unseat BTC. I don't think it will be able to take BTC place this cycle either, but next on, maybe.
If you think that a centralized mess of a shitcoin with a 90M pre-mine and currently $50-500 transaction fees will ever "overtake" BTC, then you are delusional. And POS will be a big fail.
Of course the shitshow of ethereum et al is so god damned frustrating on an ongoing basis to see the various levels of bullshit pump and dump projects, and so many of us just wished that they would hurry the fuck up with this imminent
tm transition to POS that has been being promised from that smoke and mirrors scam project since about 2016, but for some reason, they are continuing to project such best shit in the world pie in the sky vaporware transition into the future. and it never happens and how long can they keep the pyramid scheme or ponzi (or whatever other descriptives apply) going.
People are both greedy and gullible as fuck, so sure, the various ethereum marketers and scammers have made enough money (it seems) to be able to keep the scams going for a hell of a long time, 15 to 30 years does not seem unobtainable, because they can continue to suck off the teet of bitcoin's security and delude the ongoing stream of new adopters into their every shifting new ways to make money that are going to "change the world" blah blah blah..
And, I am not even saying that there are not some innovations on ethereum or related to ethereum in terms of creative (and gamification) ways to ongoingly use various technical mechanisms to part normies from their money and even allowing for some of those normies to get rich too through their ongoing injection of cash and likely ongoing confusing various regulators in such a way that the smoke and mirror schemes can go and go and go... of course, until they don't and of course, when momentum changes, there can be some additional ruthelessness that plays out when some of the froth gets corrected out from time to time (and not even sure when those various harsh and punishing corrections will be).