Hey, if they roll it out, it just means more people will move their advertising spend to Yahoo and MSN. Sure, it'll make those more expensive for substantially less traffic , but it may teach Google the lesson it richly needs.
In terms of SEO for your site, yeah, a bit fucked, but it's not like the volume on the other SEs is so low that you won't be able to get decent metrics off of those instead. It's just shifting the evil over to somewhere else. And you can bet your arse the 3rd party analytics providers will move their code to pull from one of the other big two.
And making it work on Javascript is a surefire way to kill of mobile internet. Most mobile browsers don't support it properly. Hell, I've got Opera 9 running on my phone, and plenty of sites are still fucked even though it's supposed to be compatible.