Do you believe anyone will really want to mine the coin when it gets down so low? Because they certainly won't be making a profit from it!
Your argument means all cryptos will be dead once blocks halve out
if there is 5000 people mining and getting 1 block each, or 5 people mining and getting 1000 blocks each, the diff and price will determan how many is mining. There is no certainty that people will not profit from it
What we should do is actually wait till it gets to 1 and see how it plays out. No need to panic yet, also would be a good learning experience for all crypto in general. Many people are keen to see what actually will happen, me included.
I have my view of what will happen, others have theres, but we need to at least wait and see.