I expect you're correct. However, the threat here isn't that a bunch of developers will leave. The threat is that any developers will leave and rescind the license to use their code. That would mean that code would have to be removed from the kernel, which would break backward compatibility. IANAL, but I believe an attempt to maintain compatibility would be "based on" the previous code to which the linux kernel now has no claim, and would therefore be a violation of copyright as well.
I don't really see any practical way you'd be able to remove code from the kernel in an event like this. You'd basically have to fork it.
> Most of those who kindle this flamewar are not Linux contributors but the alt-right. They also got involved in the Larry Garfield-Drupal affair (which was extremely poorly communicated).
I believe you're conflating a lot of different groups under the label "alt-right" here.
The bottom line is that there is a cultural shift happening, and there are many who oppose this sort of thing that aren't "alt-right" in the least. Mislabelling them as such serves to further inflame the divisions within our community, and allows their concerns to be dismissed out of hand. I think this is a mistake.