The algorithm was chosen to be memory IO bound rather than CPU bound. Anything CPU bound can be done faster in hardware. An ASIC does not improve memory IO. details of the algorithm can be found here: https://github.com/ethereum/wiki/blob/master/Dagger-Hashimoto.md
So, ethash algorithm is the best of ASIC resistance algorithm because of memory hungry? The other algorithm can be ASIC mined anytime easily in theory, am I right?