For now I'd say business as usual, no reason for panic. The new Microsoft isn't the old 'evil' Microsoft of Steve "Developers! Developers! Developers!" Ballmer ... they're not going to screw up Github by making it MS/Windows-only compatible, or whatever.
I'm pretty sure that more people will be choosing Gitlab for new projects (which is good - more healthy competition is a good thing), but don't waste your time moving all your existing Github repos to Gitlab overnight for no good reason, they are fine where they ar ... I'm sure Github will remain a great place and a great community for open source.
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