Polka dot is an open-source project that works with shared protocol that enables Blockchain Networks to work with Synergy. The token serves three distinct purposes; Governance, Staking and Bonding. This is designed to co-exist with Leading smart contract Blockchains rather than competing with them. This is very appealing factor for some Investors. It won't be easy for the Polka dot to challenge Ethereum as many working projects are already using Ethereum Network even though Technically it is superior project but It is already Home of 197 projects those are working on its networks and many more willing to join it.
This is also evident from price movement that we have witnessed during the past month when its price moved from $2 to almost $6 that reflects great interest of Investors in this token. There are some predictions that within a year time , Dot will be Top 3 on Market cap.
Ethereum is still the best choice for blockchain developers I think I heard it from a YouTubers interview and polkadot would not gonna surpass that Ethereum would still continue to increase its market price but developers are also looking into or considering polkadot as an alternative. when it comes to the network investors could easily be attracted to the polkadot project because of its potential and high market cap in the market. I would say polkadot have a much solid foundation compared to other altcoins in the market