Dunno, I think it's a big shakeup and the SM we know won't be the same.
I think either way, Aespa and other successful groups will be fine, especially the newer ones - after all, these companies buying into SM will be looking for profitability. It's the ones that SM have held on to that I'd be worried about if I was fans of them. Those dead-weight idols will probably get cut too and the illusion of family that they have will disappear.
I think there are pros to each way it could go. I actually think they need to transition away from LSM, he's not getting any younger and more diversity in what they do isn't necessarily a bad thing. Kakao brings a ton of opportunity and resources, and SM will automatically be their prime label.
The Hybe route has the benefit of them being managed by a company that is about music first and foremost, and is one of the most influential worldwide.
I think Hybe gives a better route to immediate outside of Korea success, but Kakao secures their future in Korea basically forever.
Personally I'm leaning towards the Kakao version from what I've seen. It may not be the same SM everyone is used to, but progress will happen and I think LSM's time is pretty much done.