With universal vaccination and boosting (possibly regular boosting), assuming Omicron stays dominant (which is a big assumption), then it would probably be reasonable to call the pandemic over; you could argue over definitions, but transmission would be significantly slowed, and due to the reduction in severity it probably would no longer be sufficiently serious to be a major concern; we'd go back to the main concern being influenza. Some people would continue to get very sick, but it would be a manageable number.

Even quite a small hole in vaccination may be a problem, though; very highly vaccinated countries like Ireland are seeing ICU pressure primarily from the 5% or so of unvaccinated adults.