Waves is unlikely to be a competitor to Ethereum, at least in the near future. Ethereum holds its positions very firmly, it is supported by many well-known companies and individuals.
ETH's popularity already make people think it is better than other coins. They don't know if project is all depends on their developer. Even ETH tokens if developer only think about themself and not the project, the coin and project will die faster. But for other token as waves token, they not give it chance to grow. And usually Waves token claimed that easy to create, that is why price not really good. Maybe that is 1 example why waves will be hard to replace Ethereum.