Currently Ethereum 2.0 has been introduced but the POW algorithm is still in use, but Cardano has used POS perfectly. Transaction costs on Cardano are cheaper than on Ethereum, the code for Dapps on Ethereum works well on Cardano, which is why many people are switching to Cardano instead of Ethereum at the moment when transaction fees on Ethereum are too expensive.
In my opinion, Cardano is a direct competitor to Ethereum in near future. If ETH2.0 is not completed early, Ethereum will face many disadvantages in the future.