High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?
I don't think so. I don't own any significant amount of ETH myself, which is a sad thing for me btw, but i still think as an objective observer that Ethereum is still the king of all altcoins and it's introduction was probably at least as important for the whole crypto space as the launch of Bitcoin before. Ethereum was the project that introduced the smart contract functionality and this piece of tech is what makes all the stuff that we are having today like Dexes, NFT's, yield farming, staking and so on even possible.
I also think though that the switch to ETH 2.0 really needs to work and that the fees also need to significantly go down then because i also use BSC mostly nowadays because the fees of ETH are just too high for a small fish like me.