Is available issuance dropping to 0 temporarily post Merge?

In early 2022, when the hard fork that merges the beacon chain occurs, there will be a period of time a few months long (until the cleanup fork) where ALL ethereum new issuance and transaction fee rewards will be locked up and unable to be sold?

If that is the case, issuance will go from 12k ether a day (ish) to… ZERO?

Or will validator be able to sell ether accumulated through tips still during this transition period?

This seems like the absolute mother of all supply shocks, even if it's temporary and I'd like to verify if my understanding is correct.