Mass RMA extinction event? No.

It has come to the attention of Migration Alliance that a small number of Registered Migration Agents (RMAs) have been promoting a view that the sky is going to fall in with the removal of 2000+ lawyers out of Registered Migration Agent population of 7000+. Their predictions include the fact that this is going to cause a catastrophe for vulnerable consumers because every lawyer in Australia is suddenly going to get involved with migration applications.
The concerns of these RMAs seem to stem from the recently taken decision to remove lawyers from the requirement to register as an RMA, and their supervision by the Office of the MARA (OMARA) in line with the recommendations of the Kendall Report (The Deregulation Bill 2019).
These RMAs also seem to think that 60,000 Australian lawyers will be unleashed on the community, and that those lawyers have no training or experience in immigration law.
...