Some questions about BSC and any future in DeFi – Should I invest?

As someone who's never purchased BNB (feeling a bit foolish now with it's price rise, but idk if it has anything to do with this stuff and not just 'binance') & I really don't get the whole Binance Smart Chain and I could really use some insight or guidance.

I see CZ_binance promoting it and calling it an ETH competitor, but I hear more about rugpulls, pump & dumps, and meme coin scams from there. Yes. I see people making money on them in r/CryptoMoonShots, but there's gotta be just as many IF NOT MORE people losing money on them.

Since it looks like Binance really wants to push BSC as a long term to competitor with the ETH ecosystem, I gotta ask two things.

1. What do you think of Binance Smart Chain's future? Is it an eth killer and should I build up some BNB and CAKE to hold long term? Is it even a competitor?
2. Are there any worthwhile projects on it? If it is going to be competitive there must be some coins running on it that aren't just Pokemon Ponzi farms.