Even if releases aren't down to absolute zero, theaters still need a robust amount of product. Last year's August-through-AVATAR dead zone was brutal for a lot of theaters; sure, there were technically movies in release, but nothing big that got anybody excited. Repeating that would be a mistake, I think. Studios should release what they have when it's ready to be released, and if that means there are dead zones next year because of the strike, take the hit then.
No matter what happens, it seems theaters are going to have to deal with another stretch of lack of product eventually. I'd rather see moviegoing stay robust this year, get (or keep) people back in the habit of going to theaters, and then deal with a thin schedule in 2024 if it comes to that.