The community named it to be a much better version of ETH.
ADA is slowly building its momentum to be the best digital cash available summing up the scalability, high security, low transaction fees, interoperability and especially considering the backlash of ETH with current gas fees.
Also the creator strongly believes that cryptocurrency absolutely have to communicate one with another and most likely this will happen in the next 3-5 years and there are rumors of Cardano/Litecoin connection bridge.
Can we see a market cap bigger than Ehereums? At the actual price rates this means it should be around $12 per ADA.
Will it happen?
Well for me I dont think Cardano will overthrow Ethereum. We can look at the market now, ethereum is still the second best coins in the market and also after the London hard fork the price is increasing so significantly. in the mean time cardano doesn't show us the same movement of price.