Fees will normalize only after eth 2.0 release or after defi death. I dont know what will be sooner
These two factors could be the cost recovery of expensive ETH gas, but maybe this is the business game of the big miners. They are still hungry for profit, all will be done when they reach their goal.
May be the above reason is the cause of the spike in ETH gas price but that doesn't mean that the transaction cost will only reduce after ETH 2.0
I don't think we will have to wait that long for the transaction cost to reduce. Things will get back normal soon as the pending transactions in the ETH blockchain are validated in the upcoming weeks. I think the transaction cost will reduce in less than a month.