Yes - the most possible scenario is that their "hardware failure" is called Nikon.
However, they must take care at some things:
1.) By improving 1DX to not leave the impression that 5D3 is abandoned.
Abandoned customers will abandon the brand.
Also, it will create a pretty nasty chain reaction which will tarnish even more the Canon's reputation which, truth to be said, isn't at its heights nowadays. Nothing worse than the word of mouth from a burned customer.
2.) Improving 1DX in such small amount of time is a sensible matter. But this has two planes: hardware and software (ok, firmware).
Doable but they must be very careful at a big dark trap which any Canon engineer should know: if they do a mistake in firmware
and this is found after the product is in the field, this is easily fixable
(the cost is low) but if they do a mistake in hardware
and this is found in the field then this can be the final tombstone
. Generally speaking, in this situation, significant improvements in firmware has by far the biggest return of investment and they should give much more importance to this now.
However, I think that they are forced to mess up with the hardware and that's why 1DX is delayed.