There were similar threats in the HD days though - that component outputs would be shut off eventually - but it never really happened AFAIK, as the studios never used their weapon (the ICT flag).
All that really happened was that component outputs were removed from consumer electronics, rather than being disabled or crippled in those that had them (and adaptors between HDMI and component were widely and legally available) - though it became moot once HDCP was totally cracked anyway.
I'd say it's a ridiculous method of enforcement anyway, as people want the original content, not after it has been processed through a BD player or TV STB. HDCP can be bulletproof but people will still crack UHD Bluray encryption, or Netflix DRM, or pay-TV encryption