Cyanogen's death and what it means for our devices

When i asked wileyfox tech support about updates they replied:
"Thank you for your email,

We assure all our customers that the support of the software will go on as provided and,

That there will be no issues at all.

Kind Regards
Stefano

Wileyfox"

As you might know, Cyanogen is shutting down its services soon. Wileyfox was one of the few brands to use it. So what will happen? Are our phones going to die, without a Nougat-flavoured update? According to a Wileyfox official, they won't.
What do you think about this?

We are getting Lineage OS, more info on lineageosrom (i can't post links)

So how will it come out?
As a ota update?

Will it not be a CyanogenMod anymore? So it's name will change?