No. He still has a few money fights and is still a wrecker in his division, so he's going to stay very close to the top, probably as the gatekeeper of title shots. Colby, as a heel to the mainstream, is also a babyface to Incels and Trumpers; and we all know most major sportsball and combat sports fans in America lean right-wing. So, he's a babyface to the bulk of the UFC fans, and a heel to mainstream fans who mostly don't care about MMA.
Now, had Colby gone the route of Berner instead of Trumper: every trumper would call him a cuck and make fun of him for paying for sex, would harass him online, etc. They would refuse to watch his fights, and that would cause him (and UFC) to make less money. So he chose the right side in politics to be both controversial to everyone else, but for the fanbase of his own sport, well - that's just their "locker room talk".
Everyone with full teeth and a soul hates Colby. But even if you hate Colby, you'd be a fool to go on a spree betting against him.