Very interesting view point.

Very few apps are using the machine capabilities of ether. Even those that are up often use test net! We are still in the expirement phase. Many of these daps are a long way from doing anything tangible

This is why Peercoin is having apps developed for it too...I'll post about that soon. But in general, yes. Eth is the price it is out of speculation. Not because eth is being used non-stop for apps today.

But I think you could be right about etc as long as what runs on eth can run on etc without any changes.