What will happen when only large institutions can afford to use Bitcoin's blockchain, due to rising fees? Won't this centralize the network if most can only trade bitcoin on centralized exchanges?
I believe there will eventually be some solutions to increasing Bitcoin fee, bitcoin is evolving as we have the BIP, and it looking at the history there is always improvement like how the community implemented SegWit. For what I know the recent increase in transaction fee is because the Bitcoin Ordinals trend, and if the community think the fee is getting ridiculous, there will be some solution to limit or even ban Bitcoin transaction.
One of the reason why most people believe in Bitcoin is because it is decentralized, so the one who take the decision on how Bitcoin grow and evolve is the community no the Big Company.