They messed up the second they pretended to be a better Bitcoin. If they maintained the narrative that they are trying to be something different, then I'd have more respect for the project.

They've forked, changed the consensus system and they can change the issuance of their PoS coins whenever they wish. "Ultra sound" money , they say... 

 I think that's a solid distinction. there's more you can point out, but just branding yourself as a Bitcoin competitor makes you a failure.

the decentralization LARPing is the other thing that gets me the most  

 Eth solely exists to not allow btc to hyper inflate against the dollar.  It's a direct attack on bitcoin to not allow the price to go up.  It's working. 

 it's working less and less if that's the case 

 It is the case and the question is if it's worked enough already and who has a motive to suppress the corn.  ETH-BTC spread