Having lots of ethereum is arguably extraordinary. However, how capable we are of utilizing its existence to produce something that's right on target. The answer, maybe all will depend on the ability of each of us (who runs it).
In my opinion the idea that's owned by the OP's a good plan, in the core, any coin that you will buy later you must be able to choose coins that are real potential. If not, technically your funds may be wasted and become unproductive, so your good will who wants to earn income with this method, empty's like hitting the wind.
Is it a good idea in your opinion for me to wait for ethereum price to increase so I can sell it and move the money to more alt coins or should I just move the current amount of ethereum to other altcoins right now? 
In my opinion the idea that's owned by the OP's a good plan, in the core, any coin that you will buy later you must be able to choose coins that are real potential. If not, technically your funds may be wasted and become unproductive, so your good will who wants to earn income with this method, empty's like hitting the wind.