For new wave of BTC value growth, you need higher demand (more users) and limited offer (supply).
And then, you will always hit transaction volume issues. No matter how advanced the blockchain would be in future.

To store something of great value, you need 100% security and consensus of who owns what.
To achieve that without central authority, you have blockchain with cryptography securing transactions and ownership.
But to PREVENT 2 different inputs having exactly same output in cryptography, you need long keys (insane number of possible combinations preventing conflict).
That's a lot of data in comparison with banks storing just transactions and calculating balance from them.

As blockchain is P2P tech with independent nodes, there would always be hard to maintain volume of transaction and cost of running a full node.

Couple of years back, everyone was running a full node Bitcoin-QT wallet with 20-30GB blockchain. Now nobody does.

If you want lots of users in P2P environment, you need lots of full nodes for P2P distribution of transaction to be smooth.
You can't just increase blocksize by 10x, that will greatly decrease the number of full nodes (blockchain would run soon into Terabytes). 24/7 server full node would need (RAID1/RAID 5/ZFS) and then you will need even more HDD space. SAS HDD's and SAS SSD's are expensive.