Is Mcgregor Sports & Entertainment the beginning of the end for Boxing and the UFC?

I feel like he will fix all of boxing's flaws such as the oversized gloves and silly rules, but more importantly he will help promote fighters/fights and pay them their fair share similar to how boxing pays people. He was talking about making his own octagon/ring that people can challenge him in, but do you think he will promote fights/fighters in this promotion as well when he retires? He is the best in the business at promoting