The end state of a blockchain for execution is simple

1) Median fees approach the cost of processing a transaction (opex + capex of validator + rpc) because there are many block builders and plenty of block space

2) Prioritization fees of all types (native priority mechanisms + others) for high economic opportunity events increase (!) because there are lots of actors wanting to take advantage of them, creating competition

3) Capacity tracks with demand (always lags a bit) allowing for sufficiently-abundant blockspace

4) aggregate revenue of the network increases while median fees are flat of decrease.

this last one is a bit complex: there are two things to optimize for in blockpacking. 1) high contention limited duration economic opportunities like an arbitrage or liquidation or nft mint for which traders have a high fee tolerance (In the tradfi world this is largely externalized through the costs bore by HFT firms on the infra side) and 2) a volume game on fitting as many base fees (low paying txs) into a block as possible

This is it.