Sure, but eventually after absorbing enough trust (value) it will move with global GDP appreciating by whatever new goods/services are added to the global economy. Bitcoin's fixed liberties will shine brightest and the way to earn more [monetary] value won't be by holding bitcoin, it'll be by holding Ford stock etc.
Can we please stop talking about 'number of transaction pending' or 'MB in mempool pending'? Its totally meaningless.
Look. I can generate 100 MB of bitcoin transactions with 0-sat fees and keep broadcasting those to my peers. Those are legal transactions (in early day of bitcoin it was normal to use 0-sat fee).
Will those txs ever clear? Of course not. 0-sat-fee is too low for today standards.
Will those inflate 'MB in mempool pending' and 'number of transactions pending' metrics? Yes!
See? It's kinda meaningless to care about this metric. Blockchain processes ~4MB of data every 10 minutes and that's that. It doesn't care how long is the backlog of txs.
Baseline forming a higher consistent floor, looks like a trend we haven't seen over a period more than a few months. I don't see it in any other project mempool.