The club would be mad to satisfy everyone on the waiting list as it's practically giving money away.
They'll hope a decent percentage of current ST holders sign up to some level of hospitality (not necessarily full lounge, but seat with a members bar type thing) and they'll sell those season tickets freed up on. I'd also expect some season ticket holders give there's up once we move, because they'll be able to get a decent view in BM without fear of a pillar being in the way.
What I can't get my head around is how the waiting list has grown so much over the years we've been at our weakest. Even in Martinez second season, when we'd just had our best ever points haul, you could buy half season tickets for Christmas presents. The list has grown from zero to between 12 and 20k (depending on who you believe) for absolute garbage.
You have to question our sanity.