I agree ETH was over his real price.
But it is not the only one to have been a speculative value for a time.
I don't think for ETH it is over, because if BTC want to stay a "money" value, it needs some "side" blockchain to host other "dirty" content.
Now that ETH is again to a reasonnable value, it can built again another future.
Remember with the web it was the same, a speculative period at the beginning, with business angels that have invest in stupid web project just because it was "web". This speculative bubble exploded and some true web project have born from the ashes.
I think with ETH it will be the same, and as i said a way to exit for a different reason next to BTC.
Keep BTC for money and secure / stable / value usage.
Keep ETH for experiment and new possibles usages of blockchain.
There is no need to have a fight or one winner here, just different purposes and usages.