I'm sorry for the ignorance, but does this mean a hard-fork is coming soon?
This is code that has been submitted to Core for their review. A hard fork would only occur if this code were implemented and 75% mining power agreed. This would be followed by a 28-day grace period after which time older clients would not be compatible with the network.
I think this proposal will be given serious consideration. For all intents and purposes, this is the "Satoshi BIP." It's what Satoshi would have done in this situation.