Yes, everyone ends up with twice as much, except the preminers. But the new coin, which has yet to be named, will have no way to be sold, until someone makes one. This may take even as long as a month, or more.
In the meantime, the idea would be that bugs start getting squashed and people start to see how the distribution goes when there is no false premined stake. We can't erase what influence they had in building some accounts up, but those accounts won't be so absurdly huge.
You got me there, also, on the question of other coins... I want to remove SBD, completely. In fact, this would allow the elimination of two currencies, if you just have VESTS, the base unit, and the deposit contract. I didn't even think about this one until just now.