Rebalancing allows people to keep channels open longer. They still need to open and close channels from time to time.
And Lightning is only one of many sources of block space demand.
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It's not an either / or issue.
Obviously folks should continue improving layer 2 solutions.
What if they are so successful that demand for block space remains below the threshold necessary for a robust fee market?
We will have screwed ourselves out of sustainable thermodynamic security via our own success.