Myself, I don't have too much hope on KPop in 2023.
To my eyes, it looks like 1813 in Napoleonic campaign.
BTS was taking the blunt of the KPop revolution and it is now gone. There is no Yet to Come, like the Beast/Highlight song "Shock" which ends with the line "This song is not over".
Already Harry Styles has taken the top position of Pop, previously occupied by BTS, and BlackPink's concert is not a world event like BTS' concerts, contrary to popular expectations. Plus , in K-O-R-E-A, they crowned IVE as the premier girl group while BlackPink was away.
With the huge umbrella maintained by BTS gone, the 4th Gen acts have to establish themselves quickly in the overseas without a clear leader. IVE is not from a large company so it will have a very hard time convincing its leadership over acts from larger companies.
Without a clear leader, various 4th Gen KPop acts will attack the world in a disorganized way, and I expect them to be defeated piecemeal without even a decisive battle.
In 2023, I expect the erstwhile allies of BTS to turn against KPop, and all these 'friends' who submitted to KPop's Power will show their true colors as KPop is in full retreat. All of the various acquisitions of Mr.Bang's Hybe will prove to become ineffective, since the only glue that held the alliance for KPop was BTS, and now it is gone, a massive backlash against KPop is inevitable.
The individual members of BTS would be busy pending for themselves to avert this massive collapse never seen since the world wars.
It is very commendable that Circle (Gaon) is finally stopping to count the domestic chart. We don't need younhas and Lim Youngwoongs to launch a stab in the back. Of course, the most determined foe of KPop, Lee Jieun, will do something to celebrate her 30th (actually 1,344th) year on earth but I won't go deep on that for now.
If lucky, KPop could return to where it stood on 2018, with some presence in Japan and southeast Asia and a little presence in the rest of the world.
But more likely KPop's enemies will force it to be destroyed as a cultural force, and by 2024 it might return back to a local fad, as if everything up to 2022 never really occurred to begin with.
Like the words written in the sand
Where the waves are
I’m afraid you’ll disappear
- from "Through the Night", a poem by Lee Jieun, written in 2017.