With all the cloudiness here on the west side of the Sierra, those chances of wet weather are pretty likely.
Go prepared, or don't go. August is just about here, the month when thunderstorms are most likely. Some years August is dry, but it isn't starting out that way this year.
Look at it this way: Life is long, the mountain will always be there.
You can almost always pick up walk-in permits, so you don't HAVE to win a slot in the lottery to go.