Hey, it is possible. That is another way of saying Bitcoin fails, which I don't consider unlikely necessarily.
I do think there is a significant incentive on the part of payment recipients to mitigate counterparty settlement risk by accepting payment on collateralized channels. In finance (outside of low-value consumer, and sovereign debt), collateral is the rule not the exception. Naked credit is the exception.
Well see how it works out. It is a certainty that LN will be deployed. It is not a certainty that it will work well or that people will use it.