I am a huge believer in Eth as a technology, however, the supply increase was devastating for me https://coincoach.ca/ethereums-supply-has-crossed-100m-what-does-that-mean/

So say it's capped at 120m circ. supply, that means to get back to ~1000 USD levels we would need a 120b market cap on eth which is less than it's all time high, but only by 14b. I think this is what Vitalik was getting at when he said ETH wouldn't see all time highs again.