Mircea and his #BTC-assets brigade has already declared 20mb blocks to be an attack on Bitcoin, so some degree of fireworks/popcorn/tears/LULZ/drama are guaranteed.
Forcing txn fees higher to contain the blockchain bloat would also implode the BTC price because you will destroy the ideological propaganda that caused people to predict much higher BTC prices due to network effects.
You would essentially be relegating Bitcoin to a hobbiest experiment on the virtues of small currencies used by a fraction of the population with that population sparsely distributed over the globe.
This is correct. Can't believe people can't see this. Or maybe they do but don't care.