I found a video of Mark Cuban explaining this:
https://youtu.be/QEoBeIdwuRgDo you think Ethereum has potential to become store of value? Why or why not?
If I leave all other aspects, considering the insane network fees, ETH is really becoming an investment asset (or store of value) rather than a currency. If it doesn't get resolved, ETH will have Similar fate as of bitcoin because bitcoin is now considered more as an investment rather than a currency.
Hopefully Vitalik will fast track the ETH 2.0 to resolve this matter shortly. Because people who transct regularly using ETH, will move to a different coin just to save this exorbitant fees!
There are many promises to solve the ETH transaction fee issue but for now ETH's transaction fees are still insanely high.
I have discontinued transactions from my wallet and am trying to switch to a different, cheaper platform.