Hmm, maybe. Depends on the infrastructure they put up. If there is a separate domain for the telemetry, then you can block it. Still no guarantee that it still works though.
The app will need internet access to login though. That really is a cat and mouse game that is not worth your time I'd say.
The app only needs internet if you're connecting remotely. Currently this only works with one bridge, which means you have to log in locally on any other bridges.
This move is completely unnecessary. They could continue letting people log in locally, but they want our data, and they are going to force that change through software updates. I've disabled software updates on my bridge because of this.