Like anything else, it will ebb and flow. UGA will have to use the portal to replace some of the guys they lost. They lost 17 guys...almost all of them being 4-5 star guys. OU lost 14. FSU lost 16. You simply can't lost all of that, on top of normal attrition, and rely on HS recruiting alone.
TCU played for a national championship with 19 transfers on the field. I know what the result was, but they shot their shot. Ol Miss is trying to position themselves as a playoff contender on the portal alone. Last year they had 33 guys leave and signed 24 transfers. This year they've lost 11 and gained 10. FSU would have achieved it if Travis didn't get hurt. I wouldn't be surprised if some of the contenders are active in the 2nd portal window once the smoke clears from the 1st window.
UGA lost 15 to the draft after the '21 season, didn't take any portal players and won the NC again in '22. They lost about the same number to the portal and the draft after the '22 season and took maybe 2 from the portal and went 12-1 so far this season and will likely end up 13-1. Relying on HS recruiting seems to be working for them so far.
This year, they are still about 10 players over the 85 scholarship limit after their portal and leave early and graduation losses when the early enrollees show up in a week or so. They have to get rid of at least that many before August. Their qb just announced he was coming back so they don't need a portal qb. I think they tried for a DL but he went somewhere else. UGA has not signed a single portal player and no one is saying they will lack talent next season. Point being; they aren't trying to get portal players, they are building their team by recruiting and developing talent.
Ole Miss is going heavy in the portal because recruiting to Ole Miss (or Miss State for that matter) is difficult and Kiffen knows he has to get talent from somewhere besides HS recruiting. I think TCU was the perfect example of trying to build a program with transfers. They put together a team that could win some games but when they faced a team with true talent and depth built on recruiting and coaching they got destroyed. FSU with Travis wouldn't beat any of the other four teams in the playoff, they had a great season in the pillow soft ACC with a down Clemson.