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well thats just my point. i see Luffy taking over the territories of the other yonko as he beats them. or sharing and/or delegating the territories with shanks. i take this from his declaration against big mama. after he beats her, he said, hes claiming fishman island as HIS territory.
Luffy did state he planned on beating Shanks as well though, so I'm not sure if he'll give any territory to Shanks, or whether he will get any territories at all, apart from Fishman Island. I see him getting islands that he has personal connections with, like Jinbei bein from Fishman Island.
To me this question seems to point that if a Pirate King appears, you'll have to ally yourself with said Pirate King, or be crushed.
Unless if you're powerful enough to challenge the Pirate King, which probably takes considerably rare potential and circumstances.
In short, all Younkai will loose their territories, while they may not stop to function as they do today, they will still answer to the Pirate King, who basically become their ruler.
So the world of Pirates stay the same, but with the difference that they will be united under 1 flag, instead of 4.
The world of the Pirates seem to be that you either get crushed or subject yourself to the victors will and ally yourself with the victor when you loose.
We saw how Ace and some others did fall to the Younkai this way, why woulnd't the Younkai be the same? Why different if a superior power appeared infront of them?