I can only give you my view.

Ethereum is a tokenised smart contract Turing complete blockchain based virtual machine.

It does NFTs and Smart Contracts natively. It has it’s own Token, Eth, which is considered money or an asset in the same way Bitcoin is considered money or an asset. This for me is the flaw and encourages speculative traders to “invest” in or hold Eth for the same reasons you would hold Bitcoin.

If you considered Eth as a token in the same way you would consider an Amazon gift card or a token required to ride a fun fair, but it isn’t.

Because Ethereum solves all the above, but fails to compete with Bitcoins monetary aspects, so Bitcoin shouldn’t try to compete with Ethereums native properties.

We, by mistake, enabled NFTs on the Bitcoin blockchain. It turns out we did it better as you can store the data natively on the Blockchain instead of an external link in the case of Ethereum. This is causing Bitcoin node runners like me all sorts of problems we would prefer not to deal with.

For this reason, I personally don’t want to emulate Ethereum’s Smart contracts by turning Bitcoin into a Turing complete engine. There are some in the space that are attempting to do this.

My view is let Ethereum do it’s thing and we’ll do ours. I don’t hate Ethereum, but I do hate that third parties see Ethereum as a monetary system and an asset.