If we look at the strength of real teams and applied cases, I would rank them as follows:
$ICP — the strongest in real applications and institutional use cases.
$AR — very strong in infrastructure, storage, and permanent data.
$FET — strong due to ASI Alliance and the AI brand, but much is still in the process of building the ecosystem.
TAO — very interesting and strong narratively, but in terms of the number of mature companies, it is currently weaker than the others.