It's used by people building medical hardware and telescopes, not for website deployments.
Edit: I'm talking about Ubuntu Pro that is 10 years.
RHEL competitor in the market is Windows, not half supported hobby distros.
I myself only switched (to CentOS Stream 9) last February for my personal servers.
I've just started testing the port that recently landed in NixOS.
It's harder to get reputable support for debian in the south Pacific. RH is damned near the only decent option.
Microsoft really missed an opportunity for a boatload of cash by not putting out a distro for enterprise and government use. I guess they're making up for it now on Azure.
Many places would develop on centos or scientific Linux and then when it went into production use RHEL, since they were effectively 1:1 ports. So yea, I imagine there are quite a few orgs who might switch.
So in the end Red Hat will have a smaller market share and less support from the community. Currently most software provides a package at least for RHEL and Debian/Ubuntu. That may change in the future, if the amount of RHEL compatible systems drop significantly.