transaction fees are not increasing though, so they can't offset miner rewards. they have been in the $100k-$200k per day range for a long time, with only occasional breakouts: https://www.blockchain.com/explorer/charts/transaction-fees-... and the trend is not to the upside. in fact with the arrival of ETFs in 2024 the trend is clearly downwards.

Is a store of value that requires a significant fraction of it be eaten up by transaction fees to maintain security going to be actually useful in the long term?

Rewards are also a permanent infinite money glitch that last in perpetuity? Or won't be changed in the future?