I'm not too worried about it... but to say it's free money is a little off.  One of the things I love about crypto is it's pure capitalism; supply and demand.  When Bitcoin Cash comes out, any dollar (demand) sent to it must come from somewhere else.  It likely will not have an obvious impact to BTC, but it will impact it.

There's only so much demand for crypto and the more supply the lower the demand... what we need to do is raise overall demand for crypto; and I personally want it to be in BTC since that's where most of my stash is.  Having numerous alt-coins spin out of BTC lowers overall demand for BTC.