I'm not sure. They could well leave it as is, either the proviso that nothing whatsoever bar a weedspray goes over it, or even like Claremorris - Collooney, that they merely maintain the right of way.
The huge Barrow Viaduct and its condition will be the key. If and when (and eventually it's inevitable), the engineer declares that bridge impassable, then it's finished.
This railway was only ever opened as a short cut from Waterford to Rosslare when the latter was by far the most important port. Unfortunately, it's been decades since anything resembling lucrative traffic ever passed over it. The few small villages served would barely fill a taxi on a public transport service. I know the area quite well, and it's sleepy, let's say.
Without the beet, it would have gone years ago, unfortunately.
It would be nice to see something appear to give it a future, but with the costs of maintaining the second largest railway viaduct in Ireland associated, it's not like reopening any normal line.