For comparison, there are around 2 million flights a year between the London airports and Edinburgh and Glasgow each (4 million total). A single London airport will probably match the Euston total for Glasgow. A lot to be hoovered up. Assuming 4,000 operating hours a year for simplicity, that is 1,000 an hour or 500 per direction. You can imagine that HSUK superfasts to London Euston and Heathrow would soak up a lot of traffic. And the freed up domestic slots would allow for more heavy widebody aircraft to wider international destinations; this is strategic thinking in action.
It’s 2.6m air passengers (not flights) to Edinburgh and 2m to Glasgow. Both rather less than they were 20 years ago as the rail service is much better and the number of flights much reduced.
The freed up slots would only be used by widebodies at Heathrow and (possibly) Gatwick. But a high proportion of Heathrow - Glasgow / Edinburgh fliers are transfer passengers to/from long haul at Heathrow, so these flights would mostly remain. This is exactly what has happened with Manchester flights.