VET – valuation seems low relative to company partnerships?

VET has a very impressive list of partnerships, but its only like number 20 in terms of marketcap?

Lots of coins above it have potential and hope, but VET seems to have actual real world companies using the blockchain. It feels like this is not properly reflected in the valuation… or, please educate me, what am I missing?

I know it has a huge, relatively speaking, supply of coins… does that put people off from 'investing' in VET?