Judging purely by userbase, ETH technically can go back to 2k+
so the 800 would be just stakers taking profit
just brainstorming here tho
dont take this as investment advice
all that happened this merge is the wealth that PoW generates has shifted away from ETH
ETH kept the gained-over-the-years value & userbase
now this PoW wealth generating mechanism will lift up other chains that you see most hash went to
it's really that simple in laments terms
the chains will take time to reflect what's happening now