It's quite likely. Either that, or they'll make part 1 a side story.
Expectations for part 2:
>5* for Lyria
>sand dolphin SSR in gatcha
>Olivia as the big bad
>shitty summon
>more free horns
>5* for lucio and DAO
There was a little dating sim with Carren during that urchin event. That was nice.