Most people don't get out of bed for a dollar so no, it won't outside the usual 10-30% pareto ratio, which is probably already getting impacted by Xitter being run into the ground.
This will absolutely stop by far the most bots, because hostile governments like Russia and China use THOUSANDS of bots, having to pay $1 extra to maintain each bot, will be prohibitively expensive for those governments. Remember this can mean THOUSANDS in extra cost for those programs. No way either Russia or China will be able to afford that. So my guess is this will be 99.99% effective at preventing bots. The problem for Musk that he may not have foreseen is, the same will be true for MAGA racist anti LGBT propaganda bots. So now Twitter will go back to be dominated by liberals and socialists. Making it necessary for Musk to pay for another platform all over again, if he wants to have a free space to blurt his idiocy.
Yes I was joking, the real explanation is of course that most bots are made by underage kids that don't have access to credit cards, and can't afford $1 out of their allowance. 😋