If Satoshi revealed his/her/their identity, I'll be waking up immediately because realistically speaking, it will not happen.
Now let's assume that it will happen, I will not be freaking out AT ALL, I will not sell my Bitcoin just because Satoshi revealed his/her/their identity, but because I want to take profit. Would the creator revealing his/her/their true identity change anything? Yes, but not for me, but for Satoshi's privacy because it might be in danger.
It will be a bomb on the market and you will see many news talking about it on media but I agree with you that nothing to feel panic about it. Because Satoshi Nakamoto does not have any silver bullet or key to shut down Bitcoin blockchain or reverse it, whatever against the network. Bitcoin network is strong by its actual decentralization and even its Bitcoin founder can not do anything.
Identity revealed so what's next?
Government arrest Satoshi Nakamoto like how they did with Pavel Durov - Telegram founder, but what's next is not similar to what Durov did with Telegram. Satoshi Nakamoto can not arbitrarily change anything in Bitcoin protocol by himself.