They'll still offer APs but fewer people will want them. And they want fewer APs. DDP shut locals out of restaurants and FP+ will shut us out of attractions unless we're willing to hyper plan. That's not how APers want to visit the parks. Without spontaneity, the desire to visit WDW wanes quickly, especially if all we're left with is table scraps.
Look for DisCo to continue to raise prices and reduce discounts for APers. And look for APers to actively take their leisure time and money elsewhere. Because that's exactly what's going to happen.
For locals, the problem with WDW is that it was never a very spontaneous destination to begin with. Thanks to its relative isolation, it's more difficult to travel there than other area parks, especially MK, with its lack of parking lot outside the gates. You're wasting more of your time just getting there compared to Universal or SeaWorld, which most locals live closer to. (Partially) because of this, I rarely hear anyone say, "Hey, let's go to Disney today." It's usually planned at least a day ahead. Disney probably thinks it won't make much of a difference if we require a more carefully structured day once in the parks. They really never intended to appeal to locals, even from the very beginning.
I'm sure I don't even have to mention the ease of park hopping at Universal compared to WDW.
Then there's the AP, which I personally haven't had in years because it's already so ungodly expensive.