Yes, which is why I hadn't done mine yet either. In my state there is no mandatory emission testing anymore (discontinued a few years ago). What seems to happen based on a few other reports, is the vehicle runs less lean. This would make sense, as that happened in other emissions recalls over the years too. It then often means higher fuel consumption but less partially combusted side products and hence lower emissions.
There is talk on how busted cats are a side effect of the original issue (lean, but higher amounts of partially combusted particles) configuration. But that is not confirmed yet either. Some people seem to have thrown that into some AI app and now posting screenshots suggesting it as a fact, not realizing the AI might have only picked it up from forum posts like ours where we were speculating. Nevertheless, if true that would mean this recall would give a lower chance of future cat failure vs an immediate higher fuel consumption now.
But it is all speculation of course. The fact that Ford is vague means there is some tradeoff somewhere.