This is a win for RCS, ultimately. Maybe this will kick carriers into high gear to up their messaging standard support game and have standard interop.
I don't think this will lead to a decline in iMessage usage, nor do I think it will be catalyst enough to get people to move to Android, because there are still things RCS won't be able to support[0] but its a big step forward for a more pleasant experience between iOS and Android.
[0]: Memojis, reactions (tapbacks I think their called) and I'm curious about threaded messages. Also, at this time the actual RCS standard does not specificy that messages must be end to end encrypted. iMessage on the other hand has robust E2EE encryption (and you can get even more robust encryption by enabling Advanced Data Protection)