Amazing tools are being created by Polkadot. But, you are correct if you think that the majority are not yet ready.
It's been my favorite project ever since I started paying attention to it around a year ago. Through their YouTube channel, they do an excellent job of connecting with the GP, and they innovate every single day.
In this bear market, I have read a great deal about Polkadot, and I admire the project and its objectives. They held a great event called “Decoded.” I got to see some parachains like aca, unq, eq, and glmr discussing upcoming changes. Dot ranks second to eth in importance among my alternative currencies.
There isn't a fundamental reason why it couldn't be a competition for eth, but it's not intended to be one. I really believe it will have a significant impact for the years to come.