Ethereum WAS a commodity when it was a PoW coin. But not anymore. Especially after switching to PoS. You basically become a shareholder of the network by holding ETH on your wallet (otherwise known as staking). In return, you receive a compensation (interest) depending on the number of coins you've deposited and how long it's been on your wallet. The longer the time, the higher the rewards will be. Similar to stocks that pay dividends.
The SEC only changed its opinion of ETH after pressure from giants like BlackRock and VanEck. After all, money talks. I hope Ethereum takes decentralization seriously before it's too late. You can see why no other coin can beat Bitcoin in terms of decentralization and censorship-resistance. It's what we need to obtain true financial freedom even from oppressive governments. Who knows what will happen in the future?
I am not sure, while you can make a case about yours, just because it has an interest doesn't mean that it is not an asset anymore, there are assets that pay dividends, stocks, and that means ETH could still be considered as an asset right now. I am not saying you are wrong, I am just saying you are as right about it as the person who says it's an asset, you are both right.
I feel like commodity is something that we can attribute to anything we want, I have seen people talk about their BIKE as commodity for Christ sake, whatever you consider valuable is a commodity. My friend sold his watches to make capital, you think watch is normally considered as asset or commodity, normally it isn't but he did it, was he wrong? Were people who said it is not one was wrong? Not really, commodity is whatever you use as a commodity, that's it.