I think they will still decorate and pretty much to
The full scale as before. I know they need to save money but a lot of the decorations are already paid for and stored In a big warehouse. And with the lack of parades, shows, fireworks, and character meet and greets, the decorations are one huge way they can provide Disney magic that is not super expensive and is a great socially distanced option (since you “look but don’t touch” with decorations). Plus, decorations are pretty much all they have for you to take pictures with so they are the only thing that would make photopass actually worth getting. IMHO
also, I would just be so sad... so I have to believe it will be decked out!