Won't happen, would be very funny if it did.
It's much more likely that One Nation is now becoming a "serious" major party on par with the greens. Rather than the big 3, it will now be the big 4.
Labor cannot govern with Green support in the senate, now Libs will also never govern with a senate majority.

Labor should be terrified about One Nation turning into a Reform UK because both Labor and Liberal only exist by bouncing off eachother, if you destroy one party, the other exists without purpose and the normies start asking questions.