I believe that what "the Krakatoa" will determine (if it indeed happens) is who among the G5 programs will continue to operate FBS programs, and who will opt for competing at the FCS level once again.
Right now, the vast majority of G5 programs fund their programs mainly with student fees. With the ever growing government debt, it's likely we'll see taxes rise at the state and local level in the future. Raising money through additional student fees will be a very hard sell going forward. Though perhaps less difficult than some others, the road ahead that we face will still be a very tough one.