Ethereum was primarily marketed as a “decentralized” app store.  This would allow “dapps” to be created up by any developer without any restriction. This was something that the developers in the Silicon Valley were long dreaming about. 

However, at launch, Ethereum came up with the idea of a premine. Ethereum launched with 12 million ETH for the developers, and 60 million for the ICO participants to buy.

Reportedly, the Ethereum community came up with narratives to prove the product-market fit for ETH and for all the projects they were into.  The core objective of the Ethereum protocol, which is about coming with a world computer, found different narratives at different points in time.

Sometimes it was through Dapps, crowdfunding, NFTs, DeFi, Open Finance, and radical markets.  Their narratives about the functions of the core protocol have gone through continual iterations. They have been trying each of these product types through evolution.  They do not have a singular narrative.  Their object of the world computer literally covers everything under the sun that can be programmed.

Ethereum also contributes to the Store of Value, which means they are trying to serve as the store of value for literally everything under the sun in a slightly different way than Bitcoin.

Ethereum is special, and it is here to stay, because it does everything that Bitcoin does, but many and every other thing that Altcoins do (or) might become capable of doing.

The way Ethereum works is subject to criticism by many, stating that Vitalik Buterin is a major influencer. Also, the cost of running Ethereum nodes has pushed developers to depend on third-party node operators. Thus, the blame of centralization exists on Ethereum. However, Ethereum core protocol and community policies claim they are decentralized.

Ethereum has been subject to many criticisms about their protocol changes over the years through Sharding, Switching from Proof of Work (PoW) to Proof of Stake (PoS), EIP 1159. This leaves doubts about vulnerabilities to attacks and weakened decentralization.

The argument of whether Ethereum is more important than Bitcoin always exists. Technically, yes.  Before people can store value, there are a lot of things they need to accomplish.  And, Ethereum facilitates smart contracts for all of these applications.  Thus, Ethereum Dapps are an everyday thing keeping the day in and day out activities of millions and trillions of transactions accomplished for different businesses worldwide. People consume products and services, and eventually, they store value to keep the cycle of products and services sustained.  So, practically Ethereum is more important than Bitcoin.

Anyone who speaks about Bitcoin superiority have the store of value concept in bias and priority.  Before one can store the value, there is a lot to be accomplished.  ETH Network makes all of that possible.

Ethereum can replace Bitcoin but Bitcoin can’t replace Ethereum.