In my view there's absolutely space for Xorg in the future. Not every OS can run Wayland well and Wayland lacks some X features like network transparency.
I kinda hope it'll be backed by an organisation that's really keen on taking it forward. Augmenting the security model for example. And going back to some client rendering enabling features like anti-aliasing. I really think there's a lack of a viable remote display tool in Linux, where Windows has RDP. Block pushers are just too slow. VDI usecases are picking up again heavily, as do other security based techniques which could benefit, like remote browser isolation. Filling up my desktop with Windows running on a bunch of other computers is just so powerful.
So in other words I'd love to see an X12 that really moves towards the future. As I understand it, it's currently with RedHat which only sees future in Wayland and X is just on life support. I regret that because I see a lot of concepts in it that are still very valid and that have been lost in current alternatives.