A lot of people are focusing on the "token swap" term, but my guess is that was just a misnomer and it be more like what we know as an airdrop where for every STEEM/SP you have on the current Steem chain you get the equivalent of the Tron version.

Yeah, i think thats the most likely scenario.

People wont complain much if they get airdropped a bunch of tokens and will simply go with it. The fuckery will come from exchanges that will start trading the STEEMTRON token as Steem. That way "its the exchanges fault"-
Witnesses will lose the most and STEEM as we know it will be gone.
I hardly think TRON can emulate what Steem is currently or copy all the development done already (you might know more about that if its indeed doable). I found Steem to be a far superior chain, even more so with SMTs.

What i think will happen is that STEEM on TRON will be demoted to being just a TRC20 token, or whatever, whose future will always be tied into TRONs future and never exceed being simply a blogging platform...

The best course of action, at least for me, a this time based on the news given is unfortunately to start powering down and wait for the snapshot. After, that try to sell as fast as i can.

I have 0 interest in being invested in something that isnt STEEM, which is under full control by a third party, which will never exceed or grow its utility outside what Justin sees it as right now.
STEEM would have had a brighter future then TRON and if he lets us keep STEEM as it is now and simply continues development along with creating a bridge to TRON, Steem would outperform TRON, im sure of it as much as im sure that Justin wouldnt like that.