You may be right but I worked for a certificate reseller for years and those we persuaded to adopt EVs saw an increase in conversion rate, so theres that.
It would be interesting to see a real study that accounts for confounders like site improvements or new products rolled out at the same time as the new certificate.
If there was actually a large effect it might suggest that browsers UIs need to be adjusted, given how little real assurance of trustworthiness an EV certificate provides.