ETH is so popular because it gives huge profit,great potential and good project. It comes 2nd in rank after Bitcoin. In market it is very strong in position. People have full trust on it.
Yes, it is true that as you said, that ETH is currently popular because we see that many ICO project projects receive it, and now is the right time to buy at a low price, because the ETH is now receding, and can provide great benefits
Ethereum, whilst it may not be the most fruitful investment in terms of returns, its a big network, one that is both very popular and is only growing. Its likely that some institutions will access Ethereum as an investment, through investing in Ethereum based projects.