If "Strelley WA, Australia" ceases to exist and everyone forgets about its former existence in some location, then it will be impossible to retrieve the exact location, yes. It could still be narrowed down to either one of the several hundred "????FWP9+J8" locations in Australia, or even the ~120 of them in "WA, Australia", but probably not more than that.
I wonder how realistic that really is, though. What would need to happen so that everyone forgets about Strelley, but not about the way plus codes are generated. Generally speaking, any set of coordinates is only useful if people still know how to decipher them: Where is 0.0/x? Where is x/0.0? What's the actual difference between 0.0/x and 1.0/x?