I usually disagree with Fitts when it comes to crypto but the pump & dump accusation could have merit. Bitcoin's dollar price gains have more than doubled Ethereum's over the past year or so. Ethereum is the world's #2 crypto by market cap and it is technologically vastly superior to bitcoin.

The high electrical consumption of Bitcoin mining is due only to extreme competition in mining. The bitcoin network itself could facilitate all global bitcoin transactions with the power of a single laptop computer.