It’s a possibility, I can’t deny that, but let’s delve a little bit more
People who only have M lenses and the eos-m bodies, why does Canon think if they forced them to upgrade would stay with Canon? That’s a brave move at best, but very foolish. You’ve alienated people and their current kit is their only connection to Canon. Some may be foolish enough to upgrade, but I see a lot of people deciding to show Canon where they can stick their suggestions and swap to another brand. Especially as this is their only connection to Canon. And I can see a lot of those other brands falling over themselves to offer trade ins and marketing to those people who have just been abandoned by Canon.
People who may have some m glass but supplement it with ef-s or ef lenses. More difficult decisions. Canon knows they will not buy any rf glass and they’re not expanding the ef or ef-s range, but there is still chance of them buying more ef and ef-s glass or m glass, and future bodies. If Canon wants them to move, offer a trade in to move to R system and see how many take it up. Or do a survey and see if they would, except that would also get out to the media if they did. So maybe just when they announce the death, they offer a free rf-ef converter and a trade in to a new APS-C R body. This same body could attract the mid range DSLR users.
To me, for this second camp, I would have not ever introduced the m6 ii last year. And I don’t think Canon makes these sorts of decisions on a yearly basis. Adjust plans? Sure. But I think when they released the m6 ii they already had the next 2-3 years mapped out. If you want to kill a line, stop developing bodies. If you want to encourage the enthusiast to move, only develop the entry level and midrange bodies.
I think worst case might be the latter. They stop developing higher end m bodies, but not the entry and mid level stuff for vloggers. They can point to the m6 ii as their best enthusiast model but then see how many of those move to an r based aps-c. No need to kill the line.
I understand that many people find the M too small, but I would suggest that smaller bodies appeal more to women - and they’re more discreet and easy to carry. Plus vloggers who do it on the move I think are less likely to be happy with an r and an rf lens. You’re hand holding these and lighter / compact is better.
Me personally, I think i would either buy a second m6 ii and keep the system for the life of it, with all the new lenses i just bought, or I would sell the lot and go Fuji. I’d keep my r5 and all that ecosystem as I’ve long accepted they are separate bar the ef lenses. But I would also inform Canon direct at my disappointment.