With the introduction of PoS, ETH is more and more centralized rather than becoming decentralized. Exchanges like Binance and people like CZ are always willing to control the market and exert huge centralization over the crypto community and this was possibly true when he was willing to do a 51% attack by bribing miners and reversing the bitcoin chain. Nowadays the primary purpose of any cryptocurrency has become a mere speculation, so obviously ETH would shoot up in price if there are more good developments are taking over but on the other hand if there are worse speculations going over and in the process we would be suffering from a bear market. This is why a mineable PoW and ASIC resistant currency like Monero would offer an excellent decentralization while comparing to Bitcoin or a PoS coin like Ethereum.

Ethereum Classic is more or less an useless mineable currency, i.e they are only used for mining and are suffering severe 51% attacks now and then. So probably ETC is geared more towards making money by offering a better mining solution rather than any use cases. ETC becoming decentralized would never make the coin superior to ETH atleast in terms of making profits as ETH provides one among the best platforms on the decentralized web to deploy contracts. This could never be achieved by a centralized chain like BSC but there are still quite a few possibilities DOT might be looking as the future ETH with more scalability and thereby providing similar use cases of ETH.

A mere $5k per coin would place the total valuation of Ethereum at $500 billion, but there are certain chains like BSC and DOT which offers better scalability in deploying contracts so possibly there could be stiff competition for ETH in terms of hitting $5 price.