I can't speak for others, but for me it should make no difference as long as they don't nerf the MacOS operating system.
The vast majority of well written C and C++ code will compile and just work on ARM64 as long as it doesn't depend on things that are undefined in the C/C++ spec but X64 lets you get away with. The big bugaboos are unaligned memory access, assembly or X64 intrinsics, and reckless casting. Vector code will need porting (assuming there's not already a NEON version) but that's generally only found in graphics, audio, machine learning, and cryptography applications. Most apps don't have any of that. (Auto-vectorization is irrelevant as the compiler does that.)
Code in higher level or newer languages is generally even less worrisome. Rust, Go, Java, C#, and any dynamic language will just work.
I do expect that these ARM64 chips are going to have lower per-core single-threaded performance but higher parallel performance than X64 due to more cores. That means that some applications may need refactoring or partial redesigns to be more parallel to take full advantage of the chip. But that's something that needs to happen anyway since all architectures are going many-core due to the end of big easy single core performance gains. It's been a long time since huge gains in single threaded performance were a thing.
As long as they don't screw it up by e.g. nerfing the OS I'm looking forward to better battery life and better overall performance due to many cores and lack of X64 instruction decode bottlenecks.
I'm curious about how they'll do it though. I predict instruction translation (X64->ARM64), but also the return of fat binaries. It's also possible that apps distributed through the App Store will be delivered only in your host architecture automatically. I think they were making some noise about that a while ago and that may be prep for this.