Ethereum’s recent move to Proof of Stake undermines the their ability to be decentralized and permission-less. If a validator adds a blacklisted transaction, they will be slashed [0].

Ethereum had an unfair issuance. That means the founders kept a pool of coins for themselves and have unfair control of the network, furthered by PoS.

Ethereum is effectively a private tech company led by a CEO. They have a public roadmap.

Ultimately I think these fundamental properties of Ethereum make it inadequate as a permission-less money protocol. It works great for games and apps, but its foundations are susceptible to coercion and control - and you can’t build a permission-less protocol on that foundation.

[0] https://cointelegraph.com/news/51-of-ethereum-blocks-are-now...