Its pretty impressive but its worth to point out that its mostly a pre-merge hype. After its done, after "buy rumours sell facts event" and spectacular dump, bitcoin will come back on top once again.
This is what happening right now, the market is down again and the price of ETH goes back to $1500 level after failing to sustain the level of $2k, I can say that the market condition also affects the price and of course it didn’t invalidate the update, the hype might still be there but the market influence of Bitcoin still dominates here. There’s a lot of altcoins that outperforms Bitcoin, this is not the first time and probably it can still happen as the altcoins continues to grow as well.