Yes, since the people grabbing the better names second time around are hardly going to "accidentally" let them expire.
So there will always be some opportunities going forward (people die, companies go bankrupt, etc.) but gradually the better names will stop expiring.
Of course, there will no doubt be endless churn at the mediocre level as speculators reg names for a year, get no sales or interest, let them expire and the next batch of newbies moves in...