I get what you're saying, and I totally agree on network effect.

However, I doubt the majority of people are 'loyal' to BSC. They're only on BSC because ETH is too costly, and they'll go back the second it's not.

Maybe I'm wrong. Time will tell.

Ethereum scaling is a ways off, I'm not super confident L2s will make a significant enough impact. That's plenty of time for the network effect and loyalty to grow on BSC.

In the end though, BSC has made massive sacrifices to decentralization/security - and unless that changes, Ethereum (when fees are lower) will be the obvious choice for developers and users.

It'll be an interesting few years, whatever happens.