Possible Olympus FF dilemma....what will they do?

Is not that they'll drop MFT, but it will be seen as the budget option and we'll get cheap (and not very good) lenses and bodies at the MFT end.
I've no use for FF, it is a format whose time is about pass.
Make a 40MP sensor for MFT (the sensor pitch is no issue), some f1 primes (we get f1.2 apparently, which is close enough for jazz) and a 12-35 f1.4 (also no big deal if they don't over engineer it the way they did the old 14-35 f2) and you have something that behaves exactly like an FF with f2 primes and an f2.8 24-70.  Why clump about with a huge sensor?
However an FF mirrorless is definitely the thing to have right now.  Canon and Nikon will get their corporate lunches eaten by Sony and Olympus have, as ever, missed a very valuable boat.