I think the cheap money certainly has the biggest impact on two things: first, larger class VC money (and where they get their funds); and second, the free capital that angels and others have available due to the Fed inflating the stock market.

However, given the increasingly lower cost of starting a company, I can't see a substantial impact to the sub $100k funding arena with the inevitable end to cheap money. $100k just ain't what it used to be, but the infrastructure ooomph it buys is just going to keep getting more astounding.