yeah pretty much. There are real use cases (like one branch of the canadian government has their own token to track spending). but none of the current uses so far justify $1000 dollars in my opinion. I'm thinking that mining plays a role there, because it costs a lot to get into ethereum mining now.
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It costs a lot to get into BTC mining, too...
Idk. ETH is a shady venture, IMO. People can only take so many hacks, wallet freezes, and forced hardforks before their skepticism kicks back in. And if there isn't a real and valuable use case when that happens, it's gonna be a hard fall.
I hear you, especially with the recent grumblings inside of the development community of Ethereum. ETH is far too centralized already, and now some developers have proposed creating a way to return funds to people that got scammed of their ethereum, which in my mind is a political move that only a centralized body would consider, especially when the guy proposing the overhaul had lost a bunch of money in a scam. I don't like the smell of the whole thing tbh.
I still have a few graphic cards mining ETH, but I've moved the rest over to UBIQ and ETC because that is where the real gains will be realized in the next year, in my opinion. ETH is on very thin ice, even if the "experts" say it will surpass bitcoins value in 2018. I call wishful thinking, but if it happens I'm not opposed to making a buck either.