I think if this becomes a reality we are entirely fucked, much as we were in the 1880s when wool prices collapsed and a decade of economic depression followed.
There were a whole bunch of incredibly large land holdings up to their eyeballs in debt that kind of just hobbled on for a while, but not able to actually adapt. Ultimately, the government implemented the land tax to break them up to make way for more productive activities on smaller farms. I see a few parallels here.