A very, very good likelihood. Childermass is already expecting it, which is why steps up to the edge of the hole and reaches down to grab at one of Strange's arms, at least trying to delay him for a moment. In the face of Strange's laughter and grinning, he's as sober as ever.

"Can't you just fetch it out with magic? Like you did the water?" Or it could be he was controlling the water and not just levitating it with something else. What a bother. "Or at the very least, let us destroy it from up here."

Because he is definitely going to fall down and then Childermass will have to go in after him and then they'll both be stuck in a hole.