Yes, surely if she gets elected as president then she will return the favor somehow and there's chance that favor might be the approval from SEC. In politics that always happens and such favors mostly become fruitful because the intention of sending such donations is always to expect some return. It won't impact Bitcoin in anyway but surely it can somehow open doors from XRP during the presidency of Kamala if she become president.
Well it think it's better to use the statement; " if she gets elected as president then she may likely return the favour" this is because she is actually not obligated in any way to return their favour at all costs. Anyways I believe all these are just speculations since chances have it that she may or may not. However I really don't think that these donations will make altcoins progress better than bitcoin.
I think the worst that could probably happen is that stricter regulations may be put in place probably against decentralisation however it's not actually guaranteed that any of these will happen. Last time I checked, US citizens are core users of bitcoin and I think that implies that there are a majority of decentralisation enthusiasts there too.