This is a huge crap sandwich if you need to use 32 bit version of pro apps(especially pro audio apps, in my case) to use sometimes expensive plugins that aren't compatible with the 64 bit version of the software, or aren't without expensive upgrades or shim libraries.
Obviously you can work around this for new projects, but it leaves you in the position of needed to keep an old machine or VM around just for opening old project files that would be useless without those plugins. I've talked to multiple people in this situation.
The 64 bit only switch was easy on iOS compared to this. Yes, there's new versions of the applications themselves available, but a whole host of plugins for audio(and i've heard video and photo apps) are going to get left in the dust here leaving people in the lurch.