The fact is Ethereum is actually underperforming especially based on the expectations enthusiasts have on it as the top altcoin in the ecosystem which Ideally should be standing out. But the thing I've come to notice is most altcoins really don't have enough core supporters like bitcoin and that could be affecting Ethereum too.
Also Ethereum seems to be deficient of hype which is one thing that increases adoption in altcoins. Back in the day when ethereum was performing the most , it used to have more meme coins on its network compared to now and that's part of the reasons adoption seems to be dropping.
When the price slows down, of course the responses that come are varied, but I personally still strongly believe that the king of latcoin is still the king and is one of the second potential assets after BTC that deserves to be on our wallet and I personally, the Ethereum foundation will certainly continue to innovate in terms of development and new updates in improving scalability, security, and decentralization in the future.