The answer Blank offers to his own question is: perhaps, but it's a sufficient prospect to merit a strategic response.
The article offers a reliable, concise account of the contours of the militancy in Kashmir since 1988. Blank argues that the impact of Kashmir-focussed armed movements has been much greater than the western powers have sometimes realised:
'Both LeT and JeM have their roots in Afghanistan -- but turned into terrorist groups of concern to the United States only after shifting their focus to Kashmir. Moreover, these and similar groups became potent generators of splinter cells and radicalized individuals.'
The article's approach - in line with Foreign Policy's remit and its strap-line 'a trusted adviser to global leaders when the stakes are highest' - is principally about the security threat that groups active (perhaps newly active) in Kashmir may pose to American interests. Blank's concluding thought:
'One lesson from the 1990s should inform all strategic planning: What happens in Kashmir does not stay in Kashmir.'
Here's a link to the Foreign Policy article.