I would think so too, but it’s not guaranteed.
Everyone thought for sure that Twitter would die with what Elon Musk has been doing to it, but somehow it seems to still be alive.
Likewise, everyone thought there would be a total exodus of users from Reddit to Lemmy or Kbin. And while those platforms did get a lot of new users, it feels like it didn’t reach the level of significance of the Digg -> Reddit mass-migration.
Therefore I am not convinced that people will actually be leaving Wordpress in droves. No matter how bad the situation currently seems for WP users.