Nah, the vast majority of this is just wrong, or at least a significant exaggeration.
It's not a scam if properly implemented and communicated, and there is no requirement to have immediate access to all content in a game just because it's stored in the same package as other content you've paid to access, for one. Otherwise you wouldn't be able to play a fighting game against a player using a DLC character you don't own, since the files for the game to show you their character when you fight them are the same as the files that allow you to use it yourself.
You sort of argue against yourself by somehow granting an exception to MMOs, too, because live games have running costs in general. I'm not clear on why a loot box or a cosmetic microtransaction is supposed to be an invalid way to fund those server costs but a subscription fee is not, beyond you being stuck in some olden days assumption of commercial transactions applying only to physical goods. I hate to break it to you, but even for the most self-contained, MTX-free indie you buy on Steam you're only paying an access license fee. I don't necessarily think that's good, but it is what's happening.
And lastly, no, the entire industry won't become a F2P MTX uniform thing. That model may be very popular and genuinely huge, but standalone, offline gaming has its own market, which has in fact grown fduring most of that process in absolute size. I think part of the reason people see it as a takeover is the gaming industry likes to share bombastic, dumbed down claims about being bigger than this or that other media form and people read it like it's a single blob of things, often based on their impression of triple A gaming at some point in the past. The reality of it is that a bunch of that "half the industry by revenue" comes down to audiences that are just not engaging with the formats and distribution channels than the historically smaller hardcore gaming subset do. Which doesn't mean traditional gaming is going away, just that some other variants that may as well be an entirely different media type have grown faster.
If anything there's been a bit of crossover, where a lot of that was happening in mobile, where especially in Western markets the amount of fossilized slop at the top end started sending people and distributors back to paid up-front experiences while a bunch of PC and console gamers are now starting to fossilze into forever games (free or not) that are several years old and not moving on. I have to guess that will come and go in waves as the whole thing stops growing endlessly by double digits and becomes yet another form of legacy media just chugging along for another century.