Is there potential that the 95% threshold could be reduced at some point?
Yes. Point.
Because 90% is also a majority. The majority *can* change anything in any consensus at any moment.
So if we reach 90% of segwit activation, we could vote that it's not 95% anymore but 90%? wouldn't that piss some people off? I don't get it so I would like to know.
Also, has a 95% of a big group of people ever agreed on doing anything? Shouldn't this have been foreseen a long time ago? I think 95% it's too much... but at the same time, it's great to guarantee that the big majority of people want something, but that 5% could be potential trolls, so I think 90% is probably a good enough compromise.
Look at this here:
http://bitcoin.sipa.be/versions.htmlAs you can see... CSV had 100% at some points... so yes it's possible. I don't know how much things have changed now compared to a couple months ago but I don't see the mining game having changed that much... CSV just was a non controversial update, but apparently some miners don't like segwit for a reason I still don't understand since it only has positives.
What does it mean for Bitcoin if Segwit never activates?
It would mean some features can't be implemented also LN will not work as good... im worried about this happening since bitcoin would remain just a better gold and not a global currency, but oh well it's still the best crypto out there with or without segwit, but it still would suck if we cant get segwit, but right now its stuck at 25% ish, i dont know what can we do to convince miners to start activating it.