If it means we have to go to US rules, then I'm gone as a CFL fan. I have no interest at all in watching second rate US football. Neither do Europeans by all acconuts, that's why it's a bit of a flop there.
Even if they converted to CFL rules in Europe, I still think it's a bad idea. NFLE is a financial drain, and we would become little more than a NFL farm league if we merged with them. If the NFL is looking at bailing out of Europe, I don't see why they would want to spend even more to help out the CFL piece of it. We'll sink with that ship, sooner or later.
As for the "grow or die" concept, we have some growing to do in Canada.... attendance, teams, ancillary revenues. Growing by being absorbed into the NFL farm system is not an improvement in my view.
Maybe the governing body for Australian Rules football might want to consider merging with NFLE? If it's such a good idea, let them have it.