So, the interesting thing about this one is that I'm not really fussed about it. While SmugMug is a paid platform, it's a paid platform for photographers and not a Getty clone from China, where respecting copyright is a passing consideration at best. I imagine that there will be some changes in the future, but in the near term it's pretty much business as usual.
What I found interesting in the email is that Flickr talked about deleting if you don't want to "join" SmugMug and provided instructions on how to do so. Obviously they're aware of the reaction to the 500px acquisition and wanted to reassure any existing members. I don't really use my account all that heavily, but I'll probably leave it alone for now and see how it goes.
On the plus side, it's got to be better than being owned by Yahoo...