Current theory predicts that Higgs boson exists. If it is found, the theory is deemed 'correct' (that is, reinforced, not disproved). Then we're a step closer tho the 'general theory of everything'.
If Higgs boson is clearly not found where the theory predict it, then the theory is deficient and has to be seriously rethought or thrown away altogether! It would be exciting time of uncertainty, crazy ideas, and new and interesting stuff to try (like it was with quantum mechanics). Or maybe not — the new and interesting effects may lie far away from the range of masses and energies of daily life (e.g. we don't usually directly see any effects of general relativity).