I think even if the price drops to $1 Ethereum won't die. Too much now depends on him, he is already deep in the crypto market and his death = the death of the entire industry. IMHO
While I agree that ethereum is needed in the industry and it wont disappear, you are exaggerating when you say that if ethereum disappears then the entire market is going to disappear, ethereum is not that influential and if it disappeared other coins will take its place immediately and will replace it without problems, the only coin with that influence is bitcoin do not forget that.