Note that there's not much left to mine on testnet: the block reward is now 0.024, about 300 times lower than Bitcoin mainnet.
For that reason, it is very unlikely that testnet3 will ever be killed. Because now, it is the only network that is quite close to mainnet, and where you can test, what will happen when the basic block reward will be very small. It is also probably the first network, that will reach zero block reward, and then a lot of people will carefully observe, what will happen next.
By the way, testnet coins are worthless by definition. So, if nothing else will happen, then testnet3 will finally reach a state, where the basic block reward will truly represent the real value of those coins. In general, testnet3 could have zero supply, but some coins are needed as a spam protection.
On the other hand, I feel like nobody really cares too much about Testnet.
Well, if you use other test networks, then you can easily get much more coins. But as far as I know, testnet3 is the only truly decentralized test network, that we currently have. Signet is centralized, because of signet challenge. Regtest is centralized, because you can create a blockstorm on CPU, so it cannot be used online. So, for better or worse, we are left with testnet3, because only in this network you can test everything, including mining. But of course, it could be improved, and some improvements were proposed, so we will see, how it will evolve.
Unfortunately, for now this means we won't have 20-minute block times in a while, i.e. no solo-mined tBTC.
You can always have some 20-minute block with the minimal difficulty. After 20 minutes, there are two options:
1. Some block with difficulty one will be accepted.
2. Some block with the real difficulty will be accepted.
And even if you cannot produce some strong block, there is always a chance to produce some weak block. It can be reorged or not, it depends if someone will try to attack, and if you will be well-connected or not. Because when it comes to weak blocks, everyone can produce them, by using CPU, GPU, FPGA, ASIC or whatever. So, in that case, the winner is the one who will spread it faster to the rest of the network, and who will not be reorged. In those cases, CPUs are more important than other hardware, because they are used to send blocks, so it is a competition between nodes, and not between miners.