well said

the problem with Ethereum is so many ICO's raised million's $ a few 100's of millions mostly in Ether so a lot of Ethereum's wealth distribution is centralised to those ICOs 

one of the most important factors i think with pump and dumps is the centralization of wealth 

bitcoin isn't too bad but with so many long term holders it hurts in terms of price discovery/liquidity as they aren't part of the market leaving a lot of room for medium sized players to effect the market