The WF players will be absorbed in some manner I don't think even the ARU are that silly not to honour WF players contracts.
I think in some ways the decision will be claimed a success in that I think average crowds will lift and average ratings will increase. Fox will be happier and all will appear under control and heading north.
TF's competition will kick in and be somewhat successful as a Pan Pacific / Asian competition.
However these two successes will be on paper only, they will hold the hard core rusted on but do little to expand rugby and prepare rugby against expansion plans by Netball, Womens AFl, A-League, and the raise of the Matilda's as a national sporting brand, cricket's BB competitions both male and female.
Nor will they of themselves arrest the fall in player numbers.
Also the more we reduce our national coverage the harder it becomes to develop a national domestic competition.
However me thinks it will kinda be alright over the next say three seasons, if survival not expansion is your objective.