Ethereum is a really powerful token that have lots of usefull tools. If you wanna do anything in crypto world , you will probably see or use a mechanic that uses ethereum. So it's really hard for an altcoin to pass Ethereum but still that doesn't overshadow the potential of Waves.
Waves is not better than Ethereum. Waves came after Ethereum so with that being one of the reasons why Waves wont be worth more than Ethereum in the terms of fiat and credibility Waves doesnt have that much people interested in it compared to Eth.
The thing that is cool about Waves is the decentralized exchange that they have and they also have a system that could be used within a regular browser so it could be adapted to more technologies as well since 99% of the people that use the Internet use a regular to browse things online for whatever purposes.