So what's the dire consequences? Republic can't fill their classes as is and AAR told Eagle they are going to farm all their flying out to other carries, aka Republic, since they shot down the proposal.
The IBT has done nothing for the Republic pilots in almost 10 years. They spent the vast majority of their time and money, your money, chasing after Frontier and the IMSL. Money and time spent getting you absolutely nothing. Republic pilots had the chance several years ago to dump the IBT and 1000+ voted to keep them. The only ones to blame for your current predicament is yourselves.