Thanks for your reply @dogfried.
Interesting point but in my opinion that does not hold up as the market cap of ETH is 75% of BTC approx so according to your calc. the price of ETH should be around 470 USD. This is my point exactly. I find it difficult to assess where things should be price wise. The reason for this is most probably that the price is currently dominated by expectations and not so much by the metrics as you propose. What do you think?

Have a great day,
@Ozz