Waves is a good project. Once this coin gave me a good salary. But at the moment I do not believe in the fact that the waves can ever become a full-fledged competitor for Ethereum.
For now it's hard to say that Waves can replace ethereum, moreover most Waves-based tokens are not as strong as ethereum, I'm sure that ethereum will be the top choice of investors compared to Waves.
In the near future, Waves will definitely not replace or even come close to Ethereum, because it is not strong and the project team needs to make many improvements, upgrades, etc. There are practically no strong projects based on Waves and this has a negative effect on the platform. Perhaps in a couple of years the platform will grow and become more popular, but now it does not compete with Ethereum, although this is just my personal opinion.
We hope so, as we know that the Waves team continues to innovate so that their platforms continue to improve, I'm sure someday Waves can defeat Ethereum.