Overall it seems inevitable that the EPP-S&D "grand coalition" will clearly loose it's majority - that could make things interesting.
Worth noting that in practice, the grand coalition is actually EPP-ALDE-S&D and not just EPP-S&D.
Losing their majority will be something symbolic but not mean much in practice.
Now, the day that there's a GUE/NGL+Right wing Euroskeptics negative majority, that will be the big day for the EU (in a bad way in my opinion). Even EPP-ALDE-S&D losing their majority would already be a huge blow (but the Greens could join I imagine)