Yeah, people are just going to keep using it, they just won’t get updates. That means they will be vulnerable to any exploits that come along afterward but most people don’t care. M$ shot everyone in the foot when they decided to limit windows 11 compatibility.
When windows 7 came out I knew people who stuck with windows xp until they bought a new computer with 10 or 11 on it. The market will get a slight bump from EoL but it isn’t going to force everyone with windows 10 to run out and buy a new computer immediately.