ETH really is a shitcoin with no intrinsic value. Its not a store of value since when bitcoin crashes 20% then ETH crashes 50%. When Bitcoin rises ETH barely follows, ETH is still 65% down compared to the recent BTC rise.
2018: Bitcoin $19000, ETH $1400
2021: Bitcoin $32000, ETH $1000
Well, you saw that Ethereum dependence on BTC, but in fact Bitcoin influences on all cryptomarket. You can find out that all the time when Bitcoin is surging and surging it pulls up all cryptocurrencies but when it dumps all crypto also decreases. That doesn’t mean that alts are fake, they just “follow their leader”.