It’s certainly possible.
I’d like to think that Blizzard is quite capable of creating a sensible explanation for why many/most of the High Elves might be physiologically altered, even just slightly, to be further differentiated from Blood Elves.
This would allow for the Blood Elves to finally get the blue-eyed Thalassian they’ve been envious of for the last 15 years; simultaneously, it allows for the storyline(s) of the High Elves to continue adding value to the Alliance, as they have for over a decade.
I’m absolutely enamored by the image Alamara posted yesterday, and I have been since we first saw it datamined from Hearthstone. It wouldn’t be difficult at all for me to imagine High Elves as being a variety of Thalassian noted for their positively shimmery colors (i.e. their skin and hair colors overlain with glistening blue-, purple-, or pink-based Arcane energy – their eyes being a choice from that same spectrum).