Less likely.
I will step out a limb.
The facts are:
1. In it's current form the withdrawal agreement, while acceptable to rEU, is not acceptable to UK parliamentarians. Without a major amendment to the agreement, specifically the duration of the Irish Backstop, UK parliamentarians are unlikely to ratify the WA.
2. While the UK continues to pursue "talks" with various EU officials, the message coming from the EU could not be clearer: that discussions are over and, for the UK as a prospective third country, "it's take it or leave it" time. The WA is no longer up for discussion; the UK has had its two years and that's all folks.
3. Consequently, Mrs May’s withdrawal agreement will succeed only if either the EU or UK backs down on the Irish Backstop. Neither can back down.
While the default position is "No Deal" (the UK need do nothing, just wait until March 30), with all that that entails, there are only two options for the UK:
1. UK could seek an extension to the A50 process. However this requires unanimous approval by rEU - and comes with strict conditions. With only weeks to go it's hard to see why the EU would extend beyond the elections to the European Parliament, starting on the 23rd May. (Readers of the UK press are typically misled that extending beyond 29 March is somehow within the unilateral purview of the UK. It's not.)
2. The UK can unilaterally cancel Brexit, right up to the closing stages. This means that the UK can make threats right up to the last kick, then back down. If the EU swerves, this will have dire implications for the Republic of Ireland and, ultimately, the integrity of the EU. If the UK swerves, it is back to where it was on the 22 June 2016, somewhat humbled and saddled with severe domestic political ramifications.
So far, the EU hasn't blinked. It is unlikely that the EU will offer the kind of last minute concessions that would satisfy the UK, thus we have a fully fledged Chicken game. The game is complicated by the UK's ability to withdraw Article 50 unilaterally, but this is a double-edged sword. On the one hand UK can make any threat, however cheap, safe in the knowledge it can back down at the last minute. On the other hand the EU can regard all the UK's threats as cheap ones, for exactly the same reason. Thus the UK can make unlimited threats, but in the white noise of the Brexit Opera separating real threats from bluffs is impossible. This is compounded by the UK’s history of bluffs. Therefore all UK threats are likely to be treated as empty ones in the endgame. Rather like two cars heading for a collision, the EU has pulled off the steering wheel and started waving it in the air. Only its not two cars, it’s a tank against Mrs May’s old Mini Cooper.
Mrs May isn't stupid. Neither are most Tory MPs. They understand the public mood can and does change. Mrs May knows that Brexit will be disowned if it turns out to be a Tory turd. As ageing Brexiteers die off, it will be very clear who will take the blame: the Tories - if they’re still around. The Mr Sensibles in the party know this [1], and so too does Mrs May.
Like Chris Le Carlin, I have put a small bet that the UK rescinds A50 and unconditionally remains in the EU, as per the conditions placed upon this option. The alternative is short term catastrophic failure, risking long term decline and, ultimately, the defenestrations of those held responsible. Unfortunately for the Tories, Brexit is their baby.
If this happens then Mrs May will fulfill her ultimate role: that of a human sacrifice, preventing the Conservative party from imploding. The damage to the UK so far is a secondary consideration: from the start Brexit was only ever about the Tories and their destructive obsession with Europe.
The real danger for the EU now is not whether the UK leaves, but the appalling prospect of it remaining.
Footnotes
1. The Tories should heed Oliver Letwin. They won’t be forgiven a no-deal Brexit | Andrew Rawnsley