Yes the price is very cheap now due to continous dropping of price although it's benefecial to many people who wants to invest in ethereum but it also creates panic to many people who owns ethereum in their wallet.
It only create panic to people who do not have any strategies in HODL or trading. Also the current state of the market where almost all crypto are in a great dip only the new investors that bought BTC and altcoins at a higher price are panicking. However they should see the bright side of this dip that it is a good time to add more tokens to their portfolio for the next bull run of the market.