> Give me any ethereum use-case & I'll tell you how to do it with bitcoin.

I'm failing to see your point. Does the fact that things are possible with bitcoin make the technical merits of Ethereum less in some way?

> What I do not like in ethereum is the nature of origin of ether which makes it just an IPO coin.

The "makes it just an IPO coin" statement also seems to discount any of the technical merits of the platform due to your dislike of how the initial coin distribution occurred.

Disclaimer: I stand to benefit financially if the platform succeeds.