I don't have the answer to that :p Personally, I would like to see the cheer part dropped if it were to become an olympic "sport". I don't believe that there is Olympic-worthy skill and athleticism in that. Cheer has evolved and I think that part needs to evolve itself out of the potential olympic version of cheer.
I'm interested to see how this all plays out and affects our "sport".
Will it unite all the different styles of cheer, create a universal score sheet, age grid, etc for the entire world to follow? In theory this would bring cheer to other areas of the world and enourage training in other countries through awareness of the sport and funding. If the olympic scoresheets placed a greater emphasis on stunts and not tumbling (because there is already gymnastics in the Olympics where the emphasis is tumbling) then I could see a lot of interest in other countries simply because it would be more "accessible" for them. You don't need a specialized facility to learn or perfect stunts, unlike some other olympic sports. You cold get by with just some mats, spotters, and knowledgable coaches. This would be a great (might I say ideal?) starting point; it would allow many, many countries to potentially train and enter teams and allow the sport to grow in the Olympics.
Or will this push the cheer world farther apart? I cannot see all star, as it is right now, as an Olympic-worthy "sport". I think there are definitely aspects of it that are Olympic-worthy, but it needs a lot of work before it could be Olympic ready. And I'm not sure how Varsity/USASF will fair in this if all styles of cheer unite under the same rules, scoresheets, etc. I can see them fighting to keep their hold on all star cheer, as it is now, and forcing "Olympic Cheer" to develop into yet another version of cheer.
I'm just thinking out loud here.