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Ethereum's true competitors are Web2.0 and TradFi. The future crypto market will enter a stage of diversification.
On July 14, the CEO of a certain company stated, "Ethereum is not competing with Bitcoin; its real competitors are Web 2.0 and TradFi software."
In the next 6 to 12 months, the crypto market will move beyond the "CoinMarketCap era," which is the view that every crypto asset is merely different in market capitalization while being essentially the same in other aspects.
We will begin to realize that the opportunities between different blockchains are diverse, just like the "apps on the iPhone" which, although the underlying technology is similar, have vastly different uses and commercial potential.