yeah pretty much this. other blockchains definitely have improved technology (kudos to their devs!) but eth has so many brilliant or excited people working on it. At least 100x the number of devs and that might be conservative. So etheruem and layer2s on ethereum are likely here to stay for some time and be a proving ground / testing ground for things for a while.

It does not mean that other things are not going to thrive (quite the contrary). Just don't expect ethereum to suddenly become null anytime soon