A buyback and burn alone is not enough IMO. I’ve written a post on a solution that includes rewarding part of the ETH fees to stakers and using another part to also buy and burn. This way the token becomes yield bearing while increasingly scarce. That is a golden combination that surpasses a simple buy and burn. Dont get me wrong, a buy and burn would be good, but why choose good when you can have better?
Heres my original post:
https://gov.optimism.io/t/the-best-of-both-worlds-op-eth/2391