The merger has been completed no major changes have occurred in the price. Better to hold on to it now, ethereum still has good potential for the future and now they are using POS it feels better than ever even gas costs have started to drop this proves that ethereum cares enough about its community.
I don't think gas cost has something to do with the merge. Even before the event, gas fee were already cheap since eth network is not congested anymore. Also the hype of NFTs was gone which is a big contributing factor why gas fee reached to more than 100$ last year.
If it was me, I would sell half of my ETH assets now because there is a high chance that bitcoin will drop more in the coming months which will cause other altcoins to also decline.
It's about being ready, maybe it's not that high anymore, but now we know hopefully it won't be high ever. There is no guarantee of course, if there is a congestion again and there is a more than expected attention towards it and the demand goes through the roof, then maybe we will have expensive gas fee again, but at least we know for bare minimum that we are doing better than we did, and that's a good thing. That's why it should be higher in price right now as well because it allows people to use it cheaper.
But, do you know why it won't be? Because people spend a lot on ETH gas fee, and that meant buying more ETH to spend on gas fee, and now they won't have to.