The hypotheis that there are plenty of uses for etherium is totally compatiable with the hypothesis that Etherium will say be worth 1⁄2 it’s price in a year from now.
In other words, even if Etheriumn has a practical use case, it might very well be that the system is actually worth 20 billion or something (that is less than its current market cap). I’m not sure, do we actually know the maket cap that properly reflects the assumed uses?
Dude, no. You are assuming that because you beat the market one time, through crypto, that you can often do so. So then we need to ask ourselves, are the people who beat the market (with crypto) people that consistently beated the market before crypto?
In almost all cases the answer is no. This is a special case where lots of people who are otherwise not good at investing made lots of money. Beating the market in this unique case shouldn’t suggest any ability to recursivly beat the market.