Is Ethereum undervalued?

Currently been longing on Eth and its truly been incredible. I must say I was introduced to Ethereum through the defi space and blockchain gaming in general, I find this concept in itself has more of an objective use case than BTC overall. Have to agree with those saying BTC is kind of like the myspace of crypto. Knowing this, is 1500$ price tag next to BTC at 35000$ really a reasonable value?
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