What if ether price goes up to more than $2000 dollars.. How will people or new cryptocurrency users be able to cope with the gas fee. As I can see so far, the current gas price has been giving people tough time. I remember when we used to use 2 gwei for gas price.
I don't think the Ethereum network congestion can reduce with time.
It's far from the horizon. And many projects and investor will find an alternative platform than staying with ethereum with high gas fees. There are a lot of blockchains out there better than ethereum and has a lot more features and scalability to offer. And the migration to the new protocol won't solve much of this problem. This will impact the market greatly especially the projects that are primarily using the ethereum blockchain.