It is my understanding that bitcoin wallets are created through a hash table with 64 bits of alphanumeric characters. What happens when all wallets are completely used up? What happens then? Just a curiosity question.
I guess you are talking about bitcoin addresses and not wallets. Given the number of addresses possible, it is unlikely to happen when mankind rules.
There are so many addresses that the probability of an identical address being generated by 2 users is almost zero. That should happen long before all addresses are used up.