The fee is somewhat bearable now, although still far more expensive compared to other chain, but I think they already missed the best opportunity ever for ETH golden age which is when TVL is reaching ATH and big projects were only deploying in ETH specifically to get that massive TVL and bring some share of it to their project.

Now blockchains are more competitive than ever, offering huge TPS and low fee, absolutely no reason to use ETH for now since other L1 is just as good if not better.
And the fact that there's nothing meaningful coming from ETH side that truly can bring spotlight to ETH. ETH holders are cooked.