IMHO, increasing block size is on the table in the future, but its still much too early for that. Historically, the size went from scalable, to 1 MB, and then increased 4X to 4MB with SegWit in 2017.

Outside of Bitcoin's consensus rules, to maintain decentralization, globally we need to ensure infrastructure buildout of more high speed network, CPU speed and storage. Another caveat to larger block sizes is that it allows for faster growth of the UTXO set as well. We need to be mindful of all of these residual effects and keep it balanced.

In the near term, I'm more in favor of reducing the block size than I am in increasing it. Reducing puts constraints that allows other parts of the world to catch up, and makes it more viable to run nodes on mobile phones.