1.) He is both impeached and removed from office. This would be the first time in American history that this has actually happened (although chances were that Nixon would have been removed from office had it gotten that far). In reality, there is almost no way that this process starts and is completed before January 20 of next year. We get President Biden, and a truly energized far Left kook base, angry that the lord and savior has been taken down a notch, and they GOTV for Biden in droves. We're looking at a potential ten-year Biden Presidency. Ugh.
2.) He is impeached and not removed from office. Then we would see what we have always seen in these matters: the "aggrieved" party gets a huge amount of sympathy and the President, weakened to complete irrelevance in the United States, suddenly has the sympathy of most of the people who see him as having been wrongfully accused, or else the accusations were over-blown. We still see this to this very day with Clinton. Twenty years after the fact, the Left and the "mushy middle" all think that Clinton was impeached over a blowjob and that it was the wrong thing to do, and he gained a lot more stature in the end because of it.
The thing to do is to not impeach Obama, but just keep him completely irrelevant. No relevance, no ability to push any of his agenda any more, and the Democrats will have no coattails. They won't be able to fight back against even Captain Milquetoast, the Speaker of the House, on relatively pedestrian Congressional matters, most particularly spending. Obamacare can get de-funded and the Left will not have the bully pulpit from which to shout about it. We won't be able to completely un-do Obamacare so long as he's in office, but we can basically gut it to the point that it's a tenth of what it is even today, before full implementation. Then after Obama slinks out of the White House in disgrace, after the Democrats lose their ass in the mid-terms next year, we can finally eradicate that cancer from this country before it does any more damage.
A hurt, weakened, impotent, lame-duck Obama is much, MUCH more preferable than an impeached and sympathetic one.