Until there are developers working to improve the ethereum blockchain and there are new projects coming in and creating new tokens, ethereum will stay and people will continue to support the ethereum blockchain. There are new blockchains popping up and they said "hey this is better than ethereum" but still people always trust crypto coins that has been around in this industry for a long time like bitcoin and ethereum.
People already knew that ETH have strong foundations, even there are lots of new competitors who are aiming to dethrone this project. Developers, investors and traders still value this coin, trust that being build already been established with how things are moving right
now, this project still the top next crypto and still holding the position.
If Ethereum is a new altcoin it's possible that people will abandon the platform for another but we are talking about the second best cryptocurrency in the entire crypto space, how will the project die because of surging gas fee? This is so pointless
Just use this logic and you'll be able to figure it out. Not just because of surging gas fee but the usages and the worht of this project
are the best basis for all the traders and investors who looks in every perspectives and potentials.