But Thameslink as I understand is at full capacity now. Where will extra capacity come from if needed in future if there is no longer room at Kings Cross. No doubt some money-grabbing developer will build on it and be lost forever.
Thameslink isn't near full capacity - the Core is capable of 24tph under ATO, which is not yet in use. That has to be shared between the Bedford and Great Northern branches, yes, but still an uplift for Great Northern versus pre-Thameslink (yes, ok, if it ever works; this isn't the thread for that).
If there's no space to divert a Moorgate train into King's Cross, the next option I assume is to terminate at FPK and turn it back there? Quite often trains run into King's Cross and then run empty to Finsbury Park to start back to WGC or Hertford don't they?
Yes, this is the case. It's a shame the old Platform 9 isn't being kept as a fenced-off 6-car stabling siding for turning diverted Moorgates ECS (for which there could be space after the remodelling), but I totally understand that this is a very eccentric use and does not justify the cost. Ideally the Moorgate branch doesn't fall over much at all - hopefully once ETCS is in and the branch gets some investment (ha), it becomes more reliable.
So looking at the diagram, you've got 4 platforms for Thameslink (7, 8, 9, 10 - former two are 12-car and latter two are 8-car). That leaves 6 platforms for LNER & open access + 7 and 8 that could be shared with Thameslink if required, all of which appear capable of taking 2x5 car 800 (platform 0 is the longest and probably easy to isolate for charters).
I don't know how intensively used those 4 Thameslink platforms will be given how much is intended to go through the Core once ATO is in, so turning wandering 717s would probably still be doable with a little platform juggling.