Everything needs an alternative so Ethereum does. I don’t see much potential in layer 2 coins such as Matic or Arbitrum. Which they are built on Eth. Read more below:
I see huge potential in DOT which was created by cofounder of ETH, Avax and Cosmos. These are Layer 0 coins which are independent provide high level of Scalability and Interoperability which are essential.
One of these three will be good alternative to Ethereum.