Unfortunately, Governments are renowned for doing stupid things which go against their stated objectives and interests. But, if you act fast, and can scrape up 18,000 Baht before the end of July you CAN get you current O visa converted to a 3 month non-O using one of the Visa services you see on here. (ThaiVisa claims almost 100% success)
It really depends on your situation , budget, and objectives. Since I started globe hopping nine years ago I have always thought my way through and prepared for 3 situations at minimum. "Plan A" being the preferred objective and method, "Plan B" the fallback plan, "Plan C" the "If all else fails" plan. I usually build in some flexibility into the budget and schedule for each plan.
In the current circumstances my "Plan A" is to hope that Malaysia and Thailand agree on a "Travel Bubble" and I can go down to KL to renew my visa. Failing that Plan A-2 is "or any other country". "Plan B" is pay one of the established Visa companies to get me converted to a 3-month non-O visa and go from there. "Plan C" would be move to another country with less constrictive Visa requirements, which has also got the virus under control, until things loosen up back here in Thailand.
Or. We can close our eyes, cross our fingers, hold our breaths, and hope Thailand renews or extends their Amnesty program.