Or maybe they will launch Win 12 with optional TPM support.
Imho making the OS(es) TPM only cannot be good for their business, many people are still on Win 10 with no intention to switch, since their motheboard does not support TPM and do not want to upgrade PC / waste PCI-E slot on TPM extension.
As someone mentioned in the comments, non TPM machines can have W11 on them and it will most likely work just fine so that’s pretty much a non issue…
In 2025 TPM 2.0 will be 11 years old, add the optional 3 years of updates and that’s 14 years old, I don’t think there will be that much personal hardware without TPM 2.0 that is still being actively used at either of those points and if the people who do still use it absolutely want to stick to Windows then they’ll still have the option I mentioned before…