It is possible miners may flee the Bitcoin network for more lucrative currencies. This would harm the network and make the dreaded 51% attack more possible. It is also possible the Bitcoin protocol will be changed to allow for more than 21 million coins.
This IS possible. Code can be changed. One wonders what might happen to BTC value was this to happen suddenly and without warning. Insiders would make a killing shorting the coin if they knew ahead of time. However, this type of speculation is for another essay."
The question is whether this fork will attract enough economic interest to survive. Without getting exchange listings and enough interested buyers, it will quickly perish. Most people realize that the 21M limit is what defines bitcoin, and its immutability is the essential difference from fiat currency.
Any deviation from that doesn't deserve to be called bitcoin and will rightly be ridiculed.
If bitcoin cannot securely endure on fees alone, then the capped supply experiment has failed, and it's time to switch to whatever is the most promising coin with a tail emission.