Waves has very good fundamentals and I agree that it is heavily undervalued at the moment. I think that their marketing has failed big time when compering with some other projects. It seems that hype is making a big part of market evaluation and Waves just doesn't get any. Furthermore, they don't have a charismatic figure like Vitalik for ETH.
Nevertheless, as I already said I like their fundamentals and will probably invest more in the project. They should be good long term investment but don't count on quick profit.
That there is only the approach to mining. POW is an outdated approach. Is it reasonable to burn so much power for nothing. In Waves this LPOS is a much more reasonable approach from which side do not look.
Sure about POW is wasting a lot of energy just to secure the network. But at least i still understand about POW is only the true decentralized system. But it takes so many efforts to keep the network still running. But what was LPOW? i don't even hear about that. The majority of altcoins which used POW will migrate to the hybrid system. If waves with its LPOW and ethereum with its Casper Pos.