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brent Many gnome-linked web sources I'm reading are distinctly advocating for magic and/or a magic wand to be employed in this stack update, but I'm more inclined to believe your version.
Gnome is forcing a change in the direction of libadwaita, and that is a given that all Gnome downstream distros and apps are going to have to work out.
It is too bad that Solus Budgie got caught in the mess, but other Budgie-based distros are also caught, as I know from other forums relating to those distros. I haven't been following BuddiesOfBudgie lately, but I expect that Budgie 11 will have adjusted one way or another. In the long run, Budge might be best served by moving away from Gnome. Along with my magic wand, my crystal ball has disappeared, so I have no idea whether that is going to happen, in whole or in part.
I've been aware of the potential issues for several months from another forum, and I was worried about how Budgie would have to change in order to make the adjustment. I involuntarily dodged the bullet because hardware changes in my Solus setup (the fractional scaling issue) forced me to move from Solus Budgie to Solus Plasma a few months ago, so I'm not directly affected.
I've seen dislocations like this happen over and over again. It is a consequence of the way in which the Linux community works -- with the exception of a small number of enterprise-focused desktops (where upstream/downstream planning is more centralized and tighter standards enforced), dislocations like this happen because upstream/downstream coordination is spotty, at best.