I will no doubt see significant drop in "earnings" and the increase from my curation won't make much impact as I delegate over half of my SP to others. It won't stop me creating. If I was here for the money I wouldn't be here at all! Things change and some people will benefit from changes and others won't. Any change will produce complaints, and in a short time people will just get on with it. In my opinion, if it encourages people to power up (STEEM or PAL or both) then it is a good thing.
Edit: personally I doubt the change will drive up the price of steem. But I'm happy to be proved wrong