Affiliates that were just making enough money to get by, will either leave this business or diversify in order to stay afloat.
Affiliates whose sites have a strong online presence will be ok, and will most probably benefit from the departure of so many affiliates from the industry.
Reputable affiliate programs may offer higher commissions to appeal to the remaining affiliates, as well as a larger range of marketing materials including multi-lingual reviews, etc
Shady affiliate programs with predatory terms and conditions will be sorry as the affiliates that remain will be unlikely to promote them, since it will be hard enough to make money with the decent affiliate programs, let alone the shady ones.