yeah, a lot of variables here. The biggest one is Rob Howard. Nobody has publicly indicated what's happening with him. If he were healthy (could be; I don't know), and if he were beating Davis in the room (could be; I don't know), it would seem to make the most sense to redshirt Davis this year. CS seemed to indicate that they are planning to use Davis at 125, so I'm guessing that either Howard isn't healthy, or Davis is beating him in the room (but again, I don't know).
To me, the more interesting piece is that most felt that Davis would be 133 in college. But with Nagao with 3 years of eligibility (including this year), Davis could be sitting for some time if that were his weight.
As for the guys coming in behind him, the big two are Luke Lilledahl and Nate Desmond. They look to be the long-term guys for 125.
Factoring all that in, with the caveat that I still don't know the full story with Howard, and nobody knows how body's will grow and whether guys will get injured, it wouldn't surprise me to see Davis go this year and next year at 125, then redshirt a year, and then slide in at 133. That would give Lilledahl a year to redshirt (not that I think he needs it, but most true freshman benefit from a RS), and then Luke could slide in at 125 and Davis could man 133.
Cael Nasdeo is greyshirting this year, and he's quite talented. I think he'll also be pushing for a spot in the coming years. And Gibson is entering next year, so he'll also be pushing for a spot.
I don't know how it will all play out, but PSU appears to be finally flipping the narrative, and will have multiple, excellent options at 125 and 133.