I actually foresee this, too. But with the SRT being replaced. Maybe someone else had this thought, too. But as history shows us, Toronto will get a left with a disjointed, unfinished mess once again. So my bet is the original underground LRT between Keele and Laird, and a completed S(L)RT. I'd prefer ROW than nothing connecting the two projects, but that fate is up to the transit gods.
But at least it will be a disjointed mess at two ends instead of one, which will mean that any pro-transit (or even transit natural) mayoral candidate will see the value in finishing the project.
But I think Metrolinx will come through on this one. The Crosstown is their centrepiece, and they don't to see their centrepiece left unfinished, or left dying on the table. It may not be the best solution, but I think they'll come up with something workable.
And I think things will get a lot clearer in the next couple of months. If Ford's Sheppard Subway dies in Council, then Metrolinx and the Province can proceed without needing any "input" from Ford, as his opinion will be basically redundant.
This means that Metrolinx can do what they want with the eastern section, which would likely mean some type of grade separation other than tunnelling.