Yes, Segwit will effectively allow larger blocks, but that's not its main purpose, and the increase is marginal.
The most recent transaction type data shows that we would have a probable block size of 2.1 MB (up from previous 1.7 MB calculation). So 2.1x is what we call marginal today?
Well, I have missed that part. Last time I read about it, it was 1.7 to 1.8 MB, which is still substantial, but still modest considering that some 18 months ago, there was a proposal from leading
BTC developers to raise the block size to 8 MB.
So this crisis is over, but I have no doubt there will another one not far from now.