I do think that speculation will lead to somewhat decreased actual consumer use, but at the end of the day, will not completely stop consumers adopting it. And as I expect bitcoin volatility to continue to drop in the future like it has, it's not a particularly big problem
Volatility is not really dropping
Though I certainly see why you think it is. You basically look at the prices and see that they haven't been moving much as of recent. So it definitely looks like daily volatility declined a lot, and technically that would be a correct conclusion. But this is not enough, and when you start looking at longer timeframes, e.g. a few months, you will notice that volatility simply moved there. The price doesn't move much on a day by day basis, that's true, but when it moves finally, its movement makes up for all this lack of daily price action. And with a vengeance at that