I have always had mixed feelings about the quality of the instruction for the IMC. However one thing I am certain of is that if it is lost and viable replacement is not found it will have a noticeable impact on the UK GA scene in terms of safety and quality of airmanship.
The mini IR debate aside, the IMC provides pilots with the tools to better aid situational awareness and greater precision of control of the aircraft. It provides a control environment that aids a pilot in growing and enhancing the skills they learnt in the basic PPL. It teaches new skills that aid confidence and enhance safety.
I have seen no evidence to remove the rating, some to improve standards and update it and none that shows it is a danger.