I see waves as BTS competition, but without having been abandoned by its lead dev, and with plenty of ICO funds to support development. Waves is looking like it could become what I hope BTS would be, so I am rooting for it, and will hold plenty of waves (which are worth a lot more than my BTS now, lol).
I still hope BTS can do well once the PTS merger dilution ends. Maybe Bytemaster will return to working on BTS in the future, and/or use developments from steem to help BTS. Clearly BTS is cheap relative to these new ICOs IF peopel still care about it / work on it. I'll always hold my remaining BTS, there is no use selling at this price.