The T-100 is it's own series and will host its own grand final to decide the series "World Champion" The World Long Distance Triathlon in Townsville will go ahead and they will crown the Long Distance World Champion.( Not that anyone really cares about that title).
PTO and World Triathlon launch the T100 Triathlon World Tour • World Triathlon
Long Distance Triathlon – Townsville Multisport World Championships

I suggest the PTO is in the driving seat with regard to where the T100 races will be, not TRI. One of T100 series' key aspects is that it's a "season". So I'm sure Townsville will be lovely but it's the wrong time of year. One could envisage it as one of the T100 venues: there isn't a T100 race in August: a surprising gap (28 July = London; 28 September = Ibiza). But not the GF.
There was some chat last year (from PTO) that one of the T100 amateur races would designated the World Tri LDWC but I think they hope that's been forgotten: https://protriathletes.org/...and-pto-join-forces/ that title will be fought out, in every age group in Townsville.

So World Champs in Long distance will be raced there, but the level of racing in any professional (soi disant) race will be sub-elite and the title hollower than normal. So, yes, effectively it's the amateur LD WC (but at least at a proper long distance (cf 100km)).
https://protriathletes.org/...riathlon-world-tour/