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I'd argue it's not the miners with the power - it's the people selling goods. A seller has to decide whether to accept a payment, and the seller's choice of blockchain (for verification) is what matters - even if only a few miners mine that chain.

Even if 99% of miners are on one of the chains, if sellers does not accept payment through that chain then bitcoin on it are worthless.

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Correct, this concept even has it's own wiki page, the "economic majority": https://en.bitcoin.it/wiki/Economic_majority

I agree public sentiment is valuable. I've said for some time that marketing in the new economy will be everything. Funnels are collapsing - losing their sales layer.

However, I'd argue it's the electric power going into the system that is mostly driving this. Compute must become more efficient, otherwise it dies.

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