I am highly sceptical. Firstly aircraft normally carry drop out oxygen which will keep the passengers alive for about fifteen minutes until the emergency descent is complete. To carry oxygen necessary to continue in cruise for another hour or so would be prohibitively heavy and technically complicated. Many passengers would have suffered ear damage or other medical problems and the thought of continuing in cruise for another hour or so pretending that everything is fine just doesn't bear thinking about. The aircraft may have suffered structural damage and all considered needs to get on the ground as soon as possible.
Now if the manufacturers are considering carrying slightly more O2 in case an immediate descen to <10,000ft is impractical in less than 20 minutes then that is a different matter.