I think both are good projects with different main objectives. Ethereum with their smart contracts and a network with so many giant projects inside. Waves have its own network too but with still growing project. I like Waves because it is a decentralized trading platform and I believe this is going to be big soon. Few months ago I picked Waves as an investment because of its bigger room to grow. So far I have it 500% already.
Good to know about Waves. Unfortunately it is not getting the traction and marketing unlike Ethereum. Might be Ethereum is good because of its co founder as he was part of the Bitcoin that makes the price go up.
There are lot of coins that have developed using Ethereum ERC20 that makes people to feel it is a standard alternative to Bitcoin.
Hope more tokens are based of waves for its price to go up.