You can only take from Peter to pay Paul for so long.
The numbers historically are fairly consistent, the last few times this happened the way they fixed it was to halt boards for the designator in question, they didn't even hold applications they were all sent back and told to redo and resubmit when they opened back up.
What will happen is some applicants will just drop out altogether, some will go for other designators, some will go to other services, and some will hang on.
The other thing they could do like before is anyone with a waiver will just get cut right off the top, wholesale cuts due to waivers, GPA, or ASTB have been a thing in the past.