I guess terra is showing a promising reversal. I have myself witneesed a core polygon developer moving his own game to terra. It can be the next dapp environment.
Also I believe that this detroning war is here to stay, but its not easy. Technically if one blockchain can develop something others can too. A lot of alternatives better than etherum are thriving since some years alredy. But the thing is etherum is having the first mover advantage and the community it has managed to build around itself is its shield.
You are right ethereum has a very great investors and Community but what amazes me most is Bitcoin.
in terms of best cryptocurrency with use case bitcoin isn't in my top 10 because bitcoin has no blockchain use case or a very little one but people invested more in it because it is the first crypto that ever exist
Bitcoin represent cryptocurrency anywhere in the world because it is the first that ever existed even though there is no major use case for it like that of ethereum and many other crypto but the rich prefer buying bitcoin more