I believe that ETH will reclaim it's glory back once gas fee issue is solved, there is also a big difference between BSC and ETH that will still make many prefers ETH, that's the fact that BSC is Centralized and ETH isn't.
Maybe what you say is true that BSC is not centralized while ETH is not, but some people think that BSC is still very stable in the next few years, so people prefer BSC.
While ETH must first solve the problem of gas costs to regain people's trust, now people are speculating about whether BSC is still able to defend itself or ETH will take quick steps to return to its original position.
I think both have the same opportunity, but your analysis is very accurate that ETH should bounce back in a perfect position