Based on the numbers at https://steamframeout.com/ you can do some very rough back of the envolope calculations and it's not looking great.

In recent days, purchases and deliveries seem to move to a pretty consistent 150/day pace. At this rate, moving through the queue of roughly 37.000 reservations will take around 240 days.

Being more generous you could substract the already shipped Frames and assume a more optimistic 160 deliveries per day. This shortens the timespan to just 200 days for the outstanding backlog.

So yeah, the last reservations would be delivered around April 2027.

I am fully aware of all the caveats of the numbers used, this is just a fun little exercise based on available data.