More like a slow, but inevitable, descent.
The Catholic Church is an institution run by celibate men. Now, why would people stay celibate like that? Is it because of their deep faith in Jesus Christ? Yeah, that could do it. Of course, it could also be because they are gay, and hiding from their own sexuality because actually living it out is against the law. Now that it isn't against the law, suddenly not very many people want to be priests or nuns. That leaves a big problem for the church. If they want to continue to have leaders, they are going to have to give up on something they considered definitive.
And of course in general they were opposed to sex, and it turns out that people kind of like sex, and once they figured out how to avoid making babies, but still having sex, they kind of turned their backs on an institution that was so anti-sex.
And then, it turns out that those guys who ran away from their sexuality, couldn't run all the way away. Some were actual pedophiles, and some others were those who preyed on the young and naïve. So these people who were so devout that they eschewed the company of women in favor of a relationship with God, actually weren't interested in women in the first place. Just boys and young men.
I don't know if the church will be able to remake itself as something other than an anti-sex league. I kind of doubt it. I think membership will continue to plummet, and within my lifetime they will be seen as mostly a curious holdover from the middle ages. There will still be millions of followers, but that's a small fraction of the total from my youth.