That ETH gas fee situation made a lot of "poorer" people move to BSC, which created a volume and interest and that caused not so poor people to come in as well. There are TVL's around 10+ million dollars in my places, even the silliest things have close to a million dollars TVL which I agree that looks small compared to ETH but price of BNB wasn't anywhere near ETH neither which is why I think the increase was expected.

I personally think that the best way to make money from defi these days is to put all your money into BSC stuff and not ETH ones because the ETH ones take at least 50 dollars (with as much as 100 dollars for network fee during swapping) and when you lose that much on just one move, your profits go down a lot whereas in BSC you spend under 1 dollar for everything.