But that doesn't take into account the gamble most of us in Bitcoin are making that bitcoin's value relative to US dollars will increase over time.
It does take that into account because fee rates are already measured in sats/vbyte, not US dollars per vbyte.
While fees are measured in sats/vbyte, this whole thing arises because miners accept fiat for fees via their accelerator services (item 2 in the list above). I don't think it matters much what fees are measured in so much as whether miners are willing to accept fiat.
Or maybe I am misunderstanding you.
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If a miner is willing to accept dollars for fees instead of btc, I can act like my btc is worth many more dollars than it actually is.
How does fees being priced in sats change this?
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