I guess there would really be a hard fork and the ensuing "split" resulting into the birth of another altcoin just like what we experienced with BitcoinCash (BCH). Anyway, I am not a very technical person so I could not delve on its many technical aspects as most of them are beyond my simple grasp.
What I understand is that just like the BCH in August all Bitcoin holders would also be receiving their own share of this coming new altcoin and that is where the excitement is all about as it can mean free airdrop of possible money for all of us. I understand that this new fork may not really be good for the image of Bitcoin but there is nothing we can do if that would be the decision of those people involved.
I would just be glad to receive my share of the new coin.