What I'm fearful is the backlash and the rubberband effect it will have. I feel like people see no value in BCC, they only want it as they see it as a way to get free money so it will almost inevitably get dumped.

I think that is exactly what will happen. Further long term holders who have huge amounts of bitcoin from the early days will likely dump it at any price in order to protect their investments.

Further I think there is a strong possibility of a 51% attack.

However, with all this new money generated (if there is any) I think people instead of converting it to fiat may just convert it to all the altcoins that have dropped dramatically in value due to this bitcoin dominance growing.

That is a possibility but it could also lead to a massive rise in Bitcoin too.

Let's hope everything turns out to be a positive @thecryptofiend but I think it is pretty sketchy how people are willing to risk keeping their coins in exchanges just so they can benefit from BCC.

I think it will be positive except for the people who buy into to BCC - they could well lose their money.