Earlier quoted context omitted.
Well they've already figured out multi-targeting in XCode and gave done this once before so I would imagine for a lot of developers it will just be a recompile. I saw a really cheap MacBook Air deal the other day and was tempted until I saw they're i3 based. Assuming App support, I could see them replace that with an ARM based CPU without anyone noticing.
They've done this 2 to 5 times before, depending on whether you count the 32-bit to 64-bit conversions and iOS. 68k->PPC, PPC->PPC64, PPC->x86, x86->x86-66, arm->arm64
More practically, the transitions so far have been like this: 68k -> PPC (With full 68k emulation) -> x86 (with partial PPC emulation) -> x86_64