I think this may be making some weird assumptions about motivation. Let’s say, for the sake of argument, that travel at 5% of the speed of light is practical. Would you be signing up to go colonise a planet around Alpha Centauri? What would be the motivation opportunity such colonisation? Who would pay for it?
If interstellar travel turns out to be permanently slow, difficult, and expensive, then that may cast doubt on the idea that anyone who theoretically can spread out all over the place given a hundred million years actually will.