What would happen if the church denounced historicity?

Let me be clear, I do not think the church will ever completely disavow Book of Mormon historicity. However, I could see them taking a position of agnosticism and relaying that the true historical accuracy is not the most important thing about the book. A “we don’t know for sure, and it doesn’t really matter” mentality.

I think we have seen this pattern when it comes to the Book of Abraham. They argue that the value and confirmation come from spiritual confirmation, not historicity. Alternatively, they could argue that it is historical, even in the absence of confirming evidence.

I think a statement like this would be difficult for many, but a large percentage of the church would not be impacted. What impact do you think this would have?