Yes, you are heavily underestimating Ethereum's Glamsterdam upgrade.
The gas limit increase to 200M means that Ethereum could theoretically already handle Base's average activity over the last few months (~16.7 Mgas/s).
While we're not targeting that initially, there's lots of headroom for further increases in the months after Glamsterdam.
IMO, this will strengthen Ethereum's role as the main DeFi hub, especially since scaling doesn't stop here.
In combination with
@etheconomiczone, it will also become the liquidity hub for L2s, bringing even more activity back to mainnet.
@DeriveXYZ and others are already preparing their products for Ethereum season.
Higher and faster.