Does the success of crypto built on the Ethereum network help increase the value of ETH?

I have been trying to wrap my head around what affects the value of ETH and keep reading that the creation of ERC-20 tokens can affect the price due to the fees paid to use the Ethereum network.

So if someone launched a new coin based on Ethereum and it does well, that then helps push the value of ETH itself up right? Or am I missing the target here?