Here are some of my thoughts. I am definitely not an expert, so I would appreciate a response pointing out the flaws in my comment.

The costs of smart contracts is, like everything else, based on supply and demand. Running smart contracts on Eth was pretty cheap when the network wasn't clogged and there wasn't so much demand. Since demand has been constantly increasing, the problem that needs to be solved is supply.

The question becomes: Is it possible to to increase the supply?

The answer is yes. More nodes, more storage. We need a lot of technological improvements in hardware before witnessing the birth of scalable blockchains.
It is also maybe possible to have some algorithms that consume less resources. But this still can't allow full scalability for all of humanity.

So before technology makes everything cheaper, I think we're doomed to have very expensive smart contracts, or to have a very small amount of people using them.

If I understood correctly, your method will remove the speculation premium costs on EOS, but how much more scalable will that be? 10X or 100X? Still not enough imo.