I think we're seeing history repeat itself--religion wise.
The Cof$ will continue, probably reformed enough to avoid being legislatively or financially wiped out.
They'll keep on with a different "pope" after DM and the pedulum will continue to swing with regard to management practices.
And you'll have the guys like Rathbun, and he would be an excellent candidate for this, organizing their own "protestant" version of a church.
And you'll have the Freezoners, much like many of today's Christians who consider themselves Christian but won't have any formal ties with a church.
And life will go on.
BTW: I think it would be legally fascinating if the "Protestant" version was formally created. Part of that evolution would be a dispute and some sort of resolution over the "Copyrights and Scriptures".
How can scriptures of a religion be copyrighted? By its very nature, a religion is in the public domain, right? I think a judge would look at the Cof$ and say, "Well, if you're really a religion and these really are scriptures then they are withiin the public domain and these "protestants" have as much a right to them as you do. And if you can't agree with that, than you're a for profit business, not a religion."
Disregarding the actual efficacy of any of it, competition is a good thing!