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They will still make money but not commercial senior advocate money.
Getting empanelled with BMC is easy, eligibility criteria is fairly straightforward. Getting matters regularly and getting good matters is hard.

But I suppose this is true for all sarkari panels.
A majority of Judges at BHC who got elevated directly from the Bar were Standing Counsel for either the State or the Central Government or the Bombay Municipal Corporation.
No matter how many Advocates are empaneled, the officers will always fail to send instructions on time resulting in them (and the Govt) getting blasted by the Court at the hearing.
What’s the point of being a senior advocate if you’re not gonna make money?
Fastest way to get empanelled - Die and take re-birth in a Judge's/Senior advocate/bureaucrat's family.