You probably already know this, but the mobile web uses a lot less links than the "desktop" web. So it's natural to wonder - How will the mobile-first index impact Google's link graph?
John Mueller responded to a tweet that he doubts it will have a major impact - but in some ways the impact will be felt. Apparently, as a commenter in the SERoundtable discussion above points out, the massive disparity between the number of links on the mobile web vs the desktop web is a big reason why the Mobile-First index has been postponed by Google. It's one of their major hurdles. So...maybe they hope that it won't have a major impact. But will it? I'm sure the wires will be buzzing with activity on the day this monster is unleashed!