If the A380 wasn't already flying, there wouldn't be any need to design and build it in the current market. The B777 does almost as much at a lower cost and the B787 opens up point to point routes which don't need a hub. It's now a niche product, similar to the Concorde with BA, where it works out for a small number of airlines on certain routes only.
EK will probably retain the A380 but in reduced numbers and on premium routes which will give the airline an edge over its rivals. Hubs will still be needed but they will be smaller and more regionally focused, the days of a single mega hub for the entire world are probably over. Point to point will increase and point to regional hub will increase, the line between origin and destination will straighten out a lot as more hub choices become available. People will still transit through Dubai as it's a convenient location but there will be less need for a major dog leg in their journey. ET could become the hub airline for Africa and TK for Europe for example.
This pandemic showed up which airlines were best placed to cope with the situation, basically those with small to medium sized aircraft could string something together while they grounded their larger airframes. Major performance analysis will be done in the aftermath, and strategies put in place in case another COVID situation occurs again.