Others will present themselves. Mozilla have been on a downtrend for years. I've heard of a couple of alternatives, but I don't have the experience with any of them. If anyone knows any good Firefox alternatives, please let us know!
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They'll probably just switch business daddy's and just have Bing as default.
When I heard the news, my first though was a mix of "Oh. oh no..", "yay! no vendor-lock-in", and "OH, NO."
My expectation for the future is that a crowd fundraiser like on Wikipedia (does anyone remember those?) will be on the way for Mozilla... there is no way they can survive a 80% drop in the budget gracefully.
Tbh I like Gecko but I hate the Mozilla company's recent statements.