I just read “Hijacking Bitcoin" which features the other side to the block size wars. Ultimately, it seems that power lies with the miners. If there are not enough transaction fees to generate revenue, they will go to other blockchains. Transaction fees being too high, make people not want to spend (not to mention HODL mentality). Small block BTC has another cycle or two in it before these effects are relevant to price. But it’s hard to argue against the fundamental economic principle of a store of value emerging out of a medium of exchange, not the other way around.