What if all browsers have cookies turned off (by default)?

Firefox has turned off cookies in its upcoming versions.  Users must now choose to turn on cookies willfully, which seems unlikely. Along with Firefox, Internet Explorer and Safari support the ‘Do Not Track’ (http://donottrack.us/)  initiative, which is a technology and a policy proposal that enables users to opt out of tracking by websites.

Browsers & Cookies

This move must have angered advertisers who want the cookies left on by default. In India, where  digital agencies have dual roles of educating the client and also executing strategies   We are moving to an Internet with the leverage tilting to the consumer side. More power to the consumer, and a huge threat to advertisers.

Chrome has not yet supported this initiative [ Considering the implications on Google Display Network and Google Analytics (third party tracking?)  ]

What happens in a world where ALL browsers have turned off cookies by default?

Lesser ad impressions across the display networks  = Lesser eyeballs = Lesser revenue for brands ?