Yep. I'm not excited about the prospect of moving back to the PC for making music, but it looks like that's what Apple want me to do.
I'm not unsympathetic -- I have some 32-bit programs lurking around, including Dramatica Story Expert, an expensive one that's still theoretically being updated. But if that program stops working, I'm inclined to blame the developers, not Apple. Apple isn't forcing them to put out an app that feels like something from 20 years ago, or to consistently wait until beyond the last minute to update for system transitions that they've had literally years of warning about. (In Dramatica's case, they didn't even transition to Carbon until the classic environment went away, and didn't transition to Intel code instead of PowerPC code until Rosetta went away.)
Some already are. When I bought my copy of Pianoteq 6 [1], I was surprised to see they also offer a Linux version (and even a Raspberry Pi version). The DAW I use called Renoise [2] has a Linux version, and the JUCE [3] development framework common to many VST plugins also has Linux support.
Listening to podcasts like Sonic Talk [4], I'm mostly hearing about studios switching from Mac back to Windows, but they have been talking a lot more about Linux too.