Putting 128 ARM cores in a Mac Pro will let it run some kinds of software very fast but not everything can be split into 128 parts that work in parallel.
I suspect that all of the Apple software, like Final Cut will be re-written to have 128+ threads but third-party software would not be re-written for the very small Mac Pro user base.
What Apple needs if they are going to continue selling high-end computers is an ARM core that is faster, Simply adding cares will not work in all cases.
On the other hand, Apple might just abandon the professional market and stall with only consumers. Why would they bother with a low-volume product? Would they abandon an entire segment? Yes. they abandoned Aperture and gave away the entire pro photography market to Adobe. They might do the same with the pro film editing market. remember Apple was "all in" and promoting Aperture until that last second, then switched. Apple will take about the future of Final Cut until one second they don't.
Don't they already have that? A faster than anybody core?
What they need is more of them, it's the only thing intel has got to hold itself.
And that is surely coming along with the extra versatility (GPU, TB, etc...) the M1 currently lacks.
Software that is not parallellizable won't be any slower on a chip with lots of cores. On the contrary, it's possible such a chip will have 8 or 16 high speed cores for single-threaded processes, and then 64 or 128 for applications that benefit from having many threads.
"Professional" workloads are precisely the ones you can just throw more cores at. Graphics, audio, and compilation are all highly parallelizable, and if you're supporting 8 cores, you're already supporting 128 cores. (It's glibly said that in computer science, there are only three numbers that matter—0, 1, and Infinity.) It's simple, user-facing, interface-related tasks that are hard to parallelize and which benefit most from having individually faster cores.
All this going on about 128 cores...
You all realize the rumors do not say a single thing about a 128 core CPU (APU), but the 64 core & 128 core references were towards Apple GPUs (for a future Apple Silicon-based Mac Pro)...!?!
And for anyone who "called it", I have been going on about Apple making another Cube for a couple of decades now, so...
28 Performance cores (just to thumb their nose at the 28 core Xeon in the 2019 Mac Pro)
4 Efficiency cores
32 GPU cores
16 Neural Engine cores
32GB RAM (128GB RAM maximum)
1TB NAND SSD (4TB maximum)
Four USB4/TB4 ports
Two USB-A ports
HDMI 2.1 port
Two Gigabit Ethernet ports (10GB Ethernet option)
420W Platinum-rated PSU
US$2,499 (base model 32GB RAM / 1TB SSD / Gigabit Ethernet)
US$4,999 (max model 128GB RAM / 4TB SSD / 10Gb Ethernet)
Apple Low-Profile Mechanical Keyboard & Apple 3D Mouse
US$249 for the pair
Apple 40" 5K2K Ultrawide TB4 Monitor
US$1,749
And to close, a blast from the past:

G4 Cubes running the displays on the set for the NX-01 Enterprise...!
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