I think so too, but IMHO it will take long to recover.
But it is one of the few coins that actually have a usage for the long term. An unrecognized gem among all the sh1tcoins and tokens that appear daily. However, it doesn't have such strong marketing. Maybe, when CBDCs come around and people realize that coins with public ledgers such as BTC and ETH can be tracked, that will be the time for Monero to step up.