Other than the already planned and possible rise in Elizabeth tph, the only likely improvement I see is GWR adding more stops before Reading, especially important in the peak. But if HS3 is focusing on Bristol and Cardiff, the other fast trains through Reading (Newbury and Oxford) will also increase.
The capacity of modern high speed lines is truly collosal.
Even at 360km/h it is 18 400m trains per hour, at a lower speed of ~300km/h this number will be even higher.
I feel that attempting to subdivide the traffic we have is unhelpful in that regard. Bristol and Cardiff will never be able to fill a substantial fraction of the capacity of such a line, even if traffic explodes.
We have to come up with routings that go where the people are, and take as much of the traffic off the (more expensive to operate and less reliable) classic railway as possible.
I think the Shinkansen model is interesting, but the UK is not Japan - we don't have many very long distances journeys to cater for - so I think something similar but somewhat different is better.
In essence I would prefer a SHinkansen style railway, but only operating the "all-stations" stopping pattern. In most cases it still (often easily) beats the classic railway and it would allow near metro intensities - so we can soak up any and all traffic we want. To use a different scheme from the one proposed as an example, I attempted to doodle a London-Brighton-south coast-Bournemouth scheme and it has fewer point ends in it than the approach to either half of Victoria station.