Either way it shakes out, Marvel can work with it. Peter goes into hiding after his identity is blown, and he takes his aunt and friends with to protect them, and they're never seen or heard from again. Meanwhile, a teenage/twenty-something Reed Richards rolls up to be the new wunderkind.
Hopefully obviously, my preference is for them to get this sorted out in a way they can keep Peter in the MCU, but I know Sony doesn't have a whole lot of bargaining leverage and I afraid they don't realize that.
I'm already bitter enough that the ABC and Netflix series that I invested so much time in are now now even peripherally tied to the MCU. I feel that does such a disservice to those productions, and im hoping they change their mind at some point.