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?
Reality is that nothing will happen to the ethereum blockchain, either the chain charges high fees, or extra high fees, or ridiculous fees; it remains the best and strongest network chain in the entire crypto currency ecosystem. The closest to the Ethereum blockchain is the BSC network. Ethereum commands massive adoption, such that even with thise high charges, continue to thrive.