Yeah, I agree with what a few other people have already said here.
I'm anticipating there being fewer tourists on the island this summer, but I see that as a good thing on a number of levels. For a start, the extra expense means a greater percentage of the people that go will be serious, passionate clubbers and electronic music fans, people who don't care how much it costs them to see their favourite DJs perform on the greatest stages in the world. And, in turn, they'll be fewer beer boys who are there on one massive, week long, drinking competition. A club doesn't necessarily need to be packed to the absolute rafters to create a white hot atmosphere. As V-Eye-Con said, quality over quantity. The quality of a crowd is in the crowd's attitude, not in the crowd's size.
And with smaller club promoters and bars fighting a little harder for people's custom, and with DJs being confronted by better quality, more "up for it" crowds, the island might claw back a bit more of that magic that made it the capital of clubbing in the first place - the magic that so many have claimed has been squeezed out by cheesey, commercialism and local partypooping.
This is all speculation at this point, but I do think reduced numbers is more likely to have a positive effect than a negative one. Here's hoping.