Bitcoin halving was one of the greatest events all Bitcoin lover have been looking forward to. The implication of this will be that miners will have lower reward for mining Bitcoin which will lead to reduction in the quantity of -cut-
While I am optimistic that market will respond positively to the halving, initial reaction does not seem to support that, hence many will be wondering what is going on.
Thanks for asking this question, and IMO we should not call halving will cause the reduction of free BTC entering the Market as nothing is free here, BTC mining is very expensive gear and sources wise. A single/alone miner can't make enough money that can make him rich overnight or even over a month. And I am also a BTC lover and I have been waiting for halving not because I am a miner but because halving cut the supply by half as you aforementioned, and according to historical data, price of BTC always increases after the halving, but no one knows how long the bull season is going to continue as its hard to judge the top maybe we have already touched the top or maybe not.
And I think more BTC-related innovation will take place, as I am already participating in many L2 and staking-type projects related to BTC as for airdrops, dapps integration, inscriptions are the things that we will see, further many projects have different ideas, the final decision is of a developer of BTC, as they will decide the future as nothing is happening against the BTC's whitepaper, but still some are liking the innovations and some are not. The answer to 2nd question is, that some will leave BTC and some will adopt it. With fee cutting half, some miners might leave this passion, as the USA is not implying 30% on electricity usage for BTC miners. I mean that's sucks.
I seriously don't understand why people think there's always going to be a huge price increase because the block reward gets cut in half. Sometimes I think folks think the supply of bitcoin decreases (which might indeed cause its value to rise) with a halving, but that isn't the case.
I would love to hear more, if you don't mind, as you are OG and you definitely have different POV here, I hope you won't mind.