regardless of the ethics, the hype, the money and the people is with ethereum. i still think it's insanely overvalued but obviously not enough other people agree.
It might be overvalued, but that's always hard to say with a cryptocurrency. After all, it could be argued that the intrinsic value is zero. And ETH/ETC is perceived as new and hot, everybody has been chasing the next big thing for a while. Half the market cap of BTC though, that's reeeaaaally much, yes...
IMO the stock markets are ridiculously overvalued too, and yet they continue to climb (for different reasons...).
I don't want to spend too much time digging deep into ETH, as it will just be a fraction of my BTC investment anyways. Just betting on the altcoin most likely to make an impact, and that's it. I have a little bit in LTC right now, which I would shift to ETH.