Two cases against your point:

1) With the restrictions being lifted (everywhere in the world), there will remain a high number of hospitalizations based on sheer increased number of cases (despite omicron being less severe but more contagious) at least for a while. The stats showed that cases are decreasing, but hospitalization is not decreasing that fast, ie. decreasing slope is much steeper for cases vs. hospitalization. 

2) Based on prediction that COVID will become endemic at some point, some type of treatment(s) will always be in need and should be ready to be deployed, eg., hospital formulary.

In conclusion, yes the peak, ie. extremely high demand for RVX, may be gone by the time the RVX is approved, but the long tail, ie. some magnitude of demand, remains (probably forever).