Hopeful for Gen 8
I don't think they'd find themselves mutually exclusive. I think if LGP/E are so successful as to inspire Game Freak to spin them off into their own separate branch of games, they'd hire enough developers so as to keep producing the traditional core titles, including new titles and remakes, and the Let's Go!-centric games, all concurrently.
My only issue GF making remakes of Gen IV only to re make them like a year or two down the road. But yeah I'm sure it would work out. I'm not worried I just actually want these games to do well since to me it looks more fun than the past two gens.
These games I do hope keep things for the main series. Like following pokemon and event no wild battles. Or at the very least make wild battles like in FFXV where they are not so intrusive.