This is a big deal. I expect that Gates’ revised opinion signifies an imminent change in elite/educated opinion on this matter. I expect that, in 10 years (potentially fewer), climate change will be a non-issue and people who are catastrophists about climate change will be discredited.
This is bad for the broader liberal cultural movement. They will be revealed to be deeply idiotic on one particular cut-and-dry issue. This will prompt intelligent people to investigate exactly what might be their cognitive shortcomings. Why did they go nuts on climate change? This is an issue that many intelligent people have been opposing since the inception - so they’ve had fair warning and an ability to question themselves.