I don't think it will bring the religion down. Look at the Catholic Church. It's still around and still has faithful adherents.
What it can do, is show that the WTS is no different than any other religion or group when it comes to scandals and controversies. The WTS for decades has placed themselves on this pedestal of being above reproach when it comes to the sins of the clergy, so to speak. With more and more cases like the Cano case coming to light and more and more abuse cases being reported in the media from the local congregation level, the WTS will no longer have credibility in the "above reproach" catagory.
Yes, there will always be a core group of fundie JWs who will believe with every fiber of their being every utterance from the mouth of the GB, but more and more free thinkers will start to see the crack in the wall. Even better, outsiders will see that even though the JWs may claim to have all the answers, their record will show better that, no, they really don't...and these people can be saved from being indocrintated into this borderline cult.
I'd love to see this Cano case break open a major child porno ring inside Bethel...maybe not involving higer ups, but involving enough Bethelites, Bethel elders and trickling down to the local KH level that would catch up pioneers, elders, MSs and even regular publishers and just shake the religion to it's knees. Major PR work for sure, and there would be some who would stick with them, but many others would say, "this can't be God's organization, if he allows this to happen inside his own walls". Wishful thinking, yea, but even without that made for TV storyline, the cases that are out there can be used to show anyone willing to be objective that the WTS can't be God's organization if this stuff continues to happen.