effect on level of competition for non-US players going forward

I know there's a LOT of discussion right now about this in the forums, but I wanted to start a thread to address this specific issue: For the three big sites that just closed their doors in the states, and for the smaller networks (Merge, Bodog, etc.) whose US players will likely drop off very soon) are the tables going to get harder or softer? I have a few friends in Europe who play online at small & some mid stakes, and they seem to disagree about effects on the remaining pool of non-US players going forward. Here's what that argue....

Option A: Really good US players are going to find a way to play online whether it is (masking their IP, moving to another country, etc), but a HUGE portion of the fish are just going to be gone, so the tables are will be filled w/ regs, and thus it wont' be nearly as profitable for non-US players.

Option B: Many of the grinders (esp those who made their living off of rakeback) will just quite playing until/if it becomes legal again. Thus the games will likely softer because decent players just won't make the effort to keep playing.

What do you think?