Yes, I think the campaign would continue regardless of what Hamas might hypothetically offer, unless such an offer is part of an agreed ceasefire with external oversight.
Politicians in key positions and more generally, people in relevant positions within key agencies and the IDF, and 'settlers' have all clearly expressed their intentions and support for "Nakba 2024", "total victory", etc. The main political figures involved have plenty to gain from continuing. We're talking here about individuals who have track records of exploiting and manipulating situations to suit their own agendas rather than the interests of ordinary people, who have been open about their intentions to prevent any realisation of a two-state solution or recognition of a Palestinian state with rights of self-determination. These are the same people who have overseen rapid expansion of the efforts to not just occupy but annex land in the West Bank, and who are openly advocating for the vision of a 'Greater Israel' in which Palestine and other countries no longer exist. These are not people likely to stop of their own volition when they can see how well (in their eyes) their efforts are going.
The current Israeli government and IDF have an aggressive, expansionist mentality, fuelled by racial and religious factors, as well as individuals being deployed in combat who are experiencing understandable trauma, fear and anger. I do not believe that they will choose to stop until "the job is done", and what that looks like will likely evolve to meet the needs or desires of the men in power.
Hamas should release hostages unconditionally because it's the closest to the right thing that they could do (the right thing would have been to not carry out terrorist atrocities and take hostages in the first place). But they won't. They're terrorists and the hostages are pretty much the last bargaining chip (in their eyes) that they have. They will want something, and that something could be negotiated to lead to a ceasefire and peace process. But they will be very aware that Israeli forces are very unlikely to stop without some form of external pressure or process.
Without some external intervention, I and many others remain concerned that this campaign will continue until there is no Palestine, through a combination of deaths, displacement and forced assimilation. A campaign of genocide does not require a population to be entirely destroyed, and the percentages of populations killed in Palestine are now considered by many to be in the range identified in other conflicts in which geocides were recognised - that, in the context of openly pro-genocide comments from Israeli figures, means many people consider this to be a genocide.