One of the causes of ETH losing so much value to be accounted to the 2017 ICOs, over 170k ETH were dumped by ICO anchors on ETH market because most of the project that conducts ICO uses ETH platform. The cancer of digital currency is however not only ICOs but also the governments trying hard to FUD the whole system.
I agree with your points about ETH. But what needs to be reported on far more is how the venture capital firms backed the ICOs and ultimately the prices crashing is their fault.