I guess you're concerned that people will still use this network if they need to pay ridiculous fees to make transactions. I'd say no since the network is definitely the most secure compared to other networks. Even if what you're afraid of comes true, people who value security and those who hold lots of BTC will keep making transactions as usual.

Sure, those who want to transact in lower values might not find BTC attractive, but the market is not limited to them. In fact, this is not the first time this happened to the network. The fact that the number of transactions keeps increasing should tell you that the demand has increased instead of decreased. I doubt those who spam the network to mint tokens also want high fees either. Either they'll move on or they'll just build something to reduce the fee to print their speculative assets.