I think only BSC, TRON, SOL, etc are lower transaction fee over ETH. It was long time that the transaction fee of Ethereum is the problem of investors because the gas fee is so unfriendly. More people thought that the update in London could solve the problem. But it didn't happen. The transaction fee is still expensive.
The transaction fees is hurting the investors and the projects who are using their platform and the project developers need to find alternatives especially NFT projects so that the end user is happy with the way things are. The promise of a lower fees after the upgrade is just a promise and unless we see any gradual change in the network fees, there is no point in holding the coin even as an asset.
Already saw many new cryptos choose Sol and BSC as their main stay to roll out their projects instead of ETH because of the higher fees. This is unacceptable and ETH losing many valuable projects to enrich its token chain even more. Might as well lose the NFT trend to Sol and BSC.