For most apps it’ll be fine, emulation and cross compiling will be enough. There will be some apps where this isn’t enough though. When the App Store switched to 64-bit, how many apps just disappeared, never to be seen again?
I fully support the transition and I think it’s a logical step for Apple, but it’s going to be one more thing that indie or smaller devs have to worry about. Which means it’s one more thing everyone on this forum has to worry about.