Traders keep using Uniswap despite high fees but a number of them are moving to BSC based platform like Pancakeswap. Projects are also migrating to BSC. Pancakeswap is doing exactly the same way Binance did to get its glory. Before Binance, people only knew about Bittrex, Bitfinex, Poloniex... But then Binance showed up with low fee strategy and people all know the story after that.

Of course, Uniswap won't collapse. I think $50-60/UNI in next year is possible. But it will likely be flipped by CAKE at that time.