If many miners move to another cryptocurrency, the difficulty for that network will go up, to the point that it's no longer profitable to mine it (electricity costs exceed income). Unless the price for the cryptocurrency goes up as well, but it won't magically do that just because of an influx of miners. After all, those other networks don't have the utility that Ethereum has.
Ethereum Classic will probably be 500 dollar at the end of this bull run. It will be worth it for miners.
This. I have a gut feeling that a lot of mining rigs were bought with credit and haven’t paid for themselves yet. Those rigs will find a new asset to mine rather than being dumped. Outlawing mining is the only thing I see that causes prices to move downward
Like how China banned it in May, and it has been creeping back?
You can't ban mining. At least not in any jurisdiction with free speech type laws.
Be careful what you are asking for -- the ability to run arbitrary software should not be controlled by governments.