I haven't really seen a detailed examination of what the impact of such a completed action would be. Perhaps A WLC writer can pursue it further, perhaps with industry contacts for expert opinion (Larry Coon or others).
Here are my guesses & questions on the topic:
If the union is de-certified, the lockout would end. The league would probably have to pay on exisitng contracts (they have argued that all contracts would be null and void but I just don't see the court agreeing with them).The league wouldn't have to play but they probably would try to.Any attempt to enforce league rules (old or new) on max salaries, restricted free agency, team caps, luxury taxes, contract lengths, raise limits would be immediately challenged by players in court seeking an injunction for anti-competitive (monopoly) behavior. I don't know how or when the court would rule. It would seem like players would also challenge in court the draft (in the future and even the validity of the last one and for all players still affected by past ones), minimum age, draft salaries and maybe trade rules. it is possible that a renegade owner could challenge the league on things like minimum salary expenditure. they could try to set-up a revenue sharing plan but the players could challenge that if they wanted to. It is not clear if the league could enforce things like charity work, the dress code, drug testing and conduct penalties. They might be able to since these are not economic factors but there would a chance some player could challenge something.
The players would not have any guarantee of how much they would get of BRI. They would probably sue for collusion and seek triple damages however if the legue offered less or much less in salaries in future years compared to the past but they would have to prove collusion to the court. League attempts to set a spending limit would seem to invite anti-trust action and a verdict in the player's favor but maybe there is some way they can try to finesse it and gain the court's protection. Awfully risky though for them. Really both of them. The rank 'n file players might lose as the free market gave more money to the best players.
Decertification is mainly spoken of as a negotiating threat now or as a weapon to get a new round of negotiations in the future on different terms more favorable to the players but it could simply mean the end of such party to party negotiations if the league decide to roll that way. A new union could be formed at some point but I am not sure the league could be compelled to recognize it.
Things probably won't go this far, but I wanted to put this much out and see if maybe somebody wanted to look into it further.