Arbtirum can survive at a price of $ 1 because the team takes good care of it, ..
There is no connection between the value of the ARB coin and the operability of the A rbitrum network. Accordingly, even if the value of the coin drops to 10 cents, the Arbitrum network will continue to work smoothly. Accordingly, the price of the coin in the future will depend only on the work of the market maker.
The market makers are the developers, those behind the funding to that coin and the potential investors on the same project, this has to do with alot of money needed to maintain their stay on the market especially whenever the market run dip and there's this common fear of missing out, but as you've said, the market makers will determine the fate for the value the coin will maintain while the storm comes in and it may either rise or fall.