I wouldn't say destroyed. I would say stopped for the time being. That wasn't the first time the Borg Queen died. At the very least, I think the Borg Queen's body was killed but her mind was possibly uploaded, and the Transwarp conduit was destroyed, but the Borg civilization continued on, without much of a hickup. Just inconvenienced because that transwarp hub, 1 of 6, was destroyed and this delays any possible attacks on Earth in the near future. I think at worst, the Queen was killed permanently, and the Borg civilization was thrown into chaos. Maybe comparable to what Hugh the Borg did to his collective when he was re-assimilated, but on a far grander scale.
But I don't think the Borg were destroyed outright.
The way I see it, Voyager Endgame pretty much was the movie after FC. Kind of hard to create another Borg movie, after Endgame that doesn't rehash what had already been done before. However, given how Endgame concluded,
I think the only logical way, if you were to do a Borg movie, or at least a follow up to Endgame would be to depict the Borg civilization in shambles and chaos. Maybe a leader among them offers them order, much like Lore did for Hugh's collective. Maybe this leader rallies the Borg, and promises revenge on the Federation. But any invasion would have to wait until the Transwarp conduit that leads to Earth was repaired. And who knows what the Feds have done with that technology Voyager brought back from 30+ years into the future. The Borg are liable to find themselves in the Alpha Quadrant surrounded by a federation fleet equipped with transphasic quantum torpedoes that pulverizes the Borg armada into dust.