I don't understand why so many people see ethereum as a competitor to bitcoin. One has a purpose of utilizing smart contracts and building on it's blockchain through those, where bitcoin was made it was made to be used as a currency. So it kinda drives me a little bonkers when I see it, like on that HBO documentary that came out not too long ago. I couldn't even watch the last like 20mns because of how much bull shit was being spewed out.
People look at them as both cryptocurrencies, regardless of the function, people who do not delve into the functions of the cryptocurrency look at them as the same. Since ETH is second to BTC, most people look at ETH as Bitcoin competitor ignoring the differences in their purposes.
This.
That's the reason why ETH is so close while people mention what can be brought to the table other than BTC.
Because it's the biggest out there afterward! But the devil is in the details, and many don't look into them from that point.