This is really disappointing news if this acquisition goes the way it's sounding. Cover was a great app and one of the reasons to use Android over iOS (along with Link Bubble, etc.).
At the least, if it gets pulled or falls into abandon, that's opportunity for someone else to fill the spot. There are obvious ways to improve Cover (like picking a time interval for it to default to Work mode--it is pretty bad at detecting Work mode in general IME). It would also be nice if you could customize the number of apps that show up in the app switcher (mainly useful on large devices like a Note 3).