If Oracle wins, software engineering will be seriously hampered. And that's not hyperbole. If you are on Oracle's side you directly jeopardize the livelihoods of most of the contributors of this board. So not only am I not surprised by the downvotes, I think they're appropriate.
Some terms about API use would likely change in some software agreements. Google would fess up about 8 billion dollars. And not much else would happen.
Software engineering is a vital part of the world and the economy and it will not go away because the law got enforced.
Then they could demand licenses for any C toolchain as well as any piece of code (libc, Linux) that included libc/UNIX compatible declarations.
This could be highly beneficial to software engineering since it would discourage the use of languages like C and Java, as well as UNIX-like systems. ;-)