From the very beginning we started to have so many Ethereum competitors and Blockchains which claimed to the Ethereum killer, always because of the way fees had increased in the main Eth network. Though, I am more inclined to believe this is rather the result of a person trying to catch the attention through using a disproportionate fee for a small transaction, it would not be the first time I have seen something like that.
So far, in spite of the high fees, Ethereum has managed to keep a high volume of transactions and those Ethereum killers have not been able to surpase the market capitalization of Ethereum.
That's because most ETH competitors are new and widely-unproven. Investors prefer the stability and reliability of the Ethereum blockchain, even if gas fees go all the way to the moon. Just like it's the case with Bitcoin these days. So no matter how fast or cheap the competition is, they'll never be able to beat the "King". ETH enjoys first-mover advantage on the market, anyways.
For those seeking the "best of both worlds", there's the option of using an L2 network built on top of the ETH blockchain. Base, Arbitrum, Optimism, etc. allows anyone to keep using ETH at a cheaper cost. I hope more people discovers this for the ecosystem's one benefit. With cross-chain bridges and atomic swaps becoming a reality, L2 networks will have a better user experience. We'll see if gas fees on the main ETH blockchain will remain low forever. Only time will tell...
