You are right by saying that this is a predicted phenomenon after the halving event.

There are some opinions regarding the way forward after BTC halving which could include the following:

1) The entire idea of halving is to force miners to be more efficient, so weeding out the inefficient and unsustainable ones are part of the beautiful design of blockchain
2) The remaining mining pools might consolidate to combine resources
3) There will be players entering the market once again when the price reaches a higher level that would make mining profitable again
4) When GPU technology advances further (with 7nm and 5nm production capabilities - and research has started for 2nm) it will be more efficient yet have a much higher hash rate.

This is my personal opinion, but if this happens, everything will be accelerated
1) The involvement of large datacentres and academic bodies to form their own mining pool.