Algorand considers itself more technically robust and will offer more programming languages, but Solana benefits from the first mover advantage.
~~Solana has had outages, but is Algorand immune from these outages/attacks?~~
Solana has high VC ownership and only has 1,200 validators because of high hardware requirements, but the number of nodes is growing and will this really slow down growth of the ecosystem?
Algorand's key advantage over Solana is that it has less risk of system outages.
That being said, Solana is good enough and ready to go for dapps which are ok with the occasional outage i.e. gaming, social media, meta verse.
Algorand needs to see more dapps go live (at least 20, if not 50) before it gets proper hype.
Solana will continue to have more hype in the short-term as it will have more dapps creating more demand for tokens, although this increases the possibility of SOL's early backers selling down their investments.
Algorand's main competitor will be Cardano, with both offering security, but Algorand offering higher TPS / lower fees and Cardano seen as more decentralised.