I believe because most 'Investors' in the space that have just arrived from Wall Street or Sherwood Forest are buying and selling nominal Ethereum on the Exchanges without ever performing an onchain action. Ethereum is utterly broken and 2.0 may never come.
Do you think this is a fair appraisal?
Actually no, such high gas fees are unjustified. I saw Ethereum's updated roadmap and I know that gas fees will be reduced as well as there will be code chunking. What is more, different rollups and layers 2 help Ethereum a lot so I think that we are moving in a right direction and this problem will be solved somehow: maybe by switching to Proof of Stake, maybe due to development of rollups and layers 2.