Hmm, I suppose their IPs will remain controlled by Disney -- there will just be little to no chance of anything being done with them (edit: I just thought that this news actually makes deals like TMI more likely -- since LucasArts will be all about licensing it opens up more opportunities, assuming there are 3rd parties who want to develop those IPs). I doubt Disney have any interest in exploring games as a medium for storytelling, which is what George Lucas created the company for. One of the LucasArts presidents from the early 90s talked about that in his autobiography:
"I sat down with a blank piece of paper and started working out my ideas. I concocted a diagram about the evolution of interactive storytelling -- concentric circles showing how interactive storytelling was or could be different from other forms of storytelling and other media. It was a crude chart, but it seemed to make sense. It excited me [...] When I finally met George, I couldn't stop talking. I whipped out my charts. I ran on about interactive storytelling and my vision for the medium. George, who had of course already given the topic a lot of thought, engaged me in a lively give-and-take about the future of games and interactive content. Whether it was my vision and enthusiasm or simply LucasArts' desperation, I don't know, but I was eventually offered the helm" (The Monk and the Riddle: The Education of a Silicon Valley Entrepreneur, p. 138-9).
I guess they tried to get back at that a few times in the last decade but never really did -- not sure why. So many cancelled titles -- Sam and Max, FT2, that Indiana Jones game, now Star Wars 1313. I never understand the logic of cancelling a game rather than finishing it and releasing it -- don't you want to see a return on investment? LucasArts must have bled quite a bit of money.
So I guess they really have been, mostly, a licensing company for a while, with a few exceptions like the MI SEs and Lucidity. In a sense not much will change -- but what's gone is the hope that things would ever get better.