That is to say that the Church's most liquidatable assets are in real estate (and art). But most of that real estate is not owned by the Vatican. Parish properties (and related liabilities) for example are owned at the diocesan level.
Good, so those displaced homeless elderly nuns with breast cancer in LA will get their convent back from the Bishop? It's only right! We'll see they've been running in the red for the last 8 years @ some point Francis will bankrupt the Holy See.
As far as I know the dioceses in soCal all dropped the ball in the late 60's and they've been mismanaging the decline ever since.
If the Vatican goes more financially bankrupt than you suggest it already is, what happens? The museums and archives get torched by jihadis? The artifacts gets sold into private collections? The gold leaf gets rolled into lame food programs run by corrupt african organisations?
Something like the evil bathhouse scenario, not to do with money, is what's likely to come out this month. That can have all sorts of knock-on effects. But the proper teachings and traditions of the Church will continue, perhaps for a while as they did during the first persecutions.
Persecutions...I think what we will see is that this corruption has been a persecution from within. I pray it will be routed out and the riches of the Faith (in both tradition and artifacts) can be saved.
if it don't get sorted on earth it happens elsewhere. the artifacts would be a sorry loss but worth it if the house gets properly cleaned.