Investing in the platform and not the Dapp?

Am I alone in thinking that it always makes more sense to invest in the platform technologies such as Ethereum, Waves etc. than in the dapps on top of these? Or am I missing something?

My strategy is to invest in Ethereum and the competitors of ethereum as these platforms will provide the foundation for other usages of the blockchain and through this reap the success of the dapp on top?

Or maybe I am missing something :-)