I am completely in agreement. I can't believe EOS's valuation and it's why I did not invest in it. As you said, it's just a whitepaper.... It's not to say they can't do something incredibly disruptive but it's ridiculous the level of fervor behind this ICO.
An ETH killer cannot be in the making on paper, but in implementation. Let's see what EOS can do, or if it'll be another half abandoned project like Bitshares and STEEM by Dan.