Isn't there an equilibrium or oscillatory cycle: fees higher -> smaller wallets stranded -> fewer viable transactions -> lower block demand -> lower fees?
BTC has no use-value any more, there are better functional crytpos and so it is a pure speculative "asset". I think it's price will increasingly fluctuate and eventually collapse for the same reasons as Beanie Babies or tulip bulbs. The power costs of mining set a lower bound on fees+price tho. Once block rewards are ended we could have a negative feedback where fees take an increasing fraction of tx value and price continues to drop to reducing liquidity.
One scenario is BTC becomes the "Rai stones" of crypto https://en.wikipedia.org/wiki/Rai_stones which are not used directly but "ownership" is transferred by convention
I notice that searching 'All' with the URL "https://lemmy.world/c/[email protected]" doesn't find anything, but searching with "https://lemmy.ml/c/privacy" does. It seems you need the originating instance for it to work. A ping identifier also work "[email protected]"