No it isn't. It has two use cases, a stablecoin platform and a platform for token scams. It's losing market share all the time to other rubbish like Solana. Why would anyone in their right mind hold chuck-e-cheese arcade token Ethereum as actual money. Hint: they won't.
You're basically describing Bitcoin in the same words. I despise Vitalik Buterin like nobody's business, but pissing down on Ethereum as a Bitcoin holder is too funny to not call out. Both of them are monopoly-money investments, with the L2 joke altcoins trailing close behind.