Please read my other comment to get more context on this.

rewards decrease over time (block reward halving). Only rewards are tied directly to btc price - it is a constant amount of btc rewarded.

fees depend on amount of transactions on-chain so their actual value depends on how many nodes transact btc on-chain (comparing to let’s say lightning). Eventually miner’s profits are going to be dependent solely on that.

So energy consumption will start correlating with amount of transactions eventually. More precisely it would start correlating with amount of large-value transactions as small retail ones would be (hopefully) handled by LN.

Large-value transactions are more likely to pay higher fees, so multibilioners like elon would eventually negatioate mining fees with miners: less miners -> less security, more miners -> higher fees (tradeoff basically).