Well, while it is customary for the 1922 Committee to act if a given number of letters are received, there is actually no legal requirement that they do so. They will act in what they see to be the best interests of the party. Three leaders in six years - the optics aren't good, are they?
The problem is that, by giving the vote to grassroots members, both main parties are now at the mercy of those members! One Tory MP has derided local Tory activists as 'mad, swivel-eyed loons', and blamed them for the election of Boris Johnson. Those same activists were the ones who elected Liz Truss, because she reminds them of Thatcher, who is still worshipped at constituency level.