If they can get an All-Stars game between the two competitions (as a selector for the national team) and if they can get a Super Bowl-style Grand Final between the two competitions, this could actually be a really good thing for RL in America!
Everyone has kind of gotten a bit of what they wanted here. Yeah, the leagues themselves may be weaker in quality due to a spread of the talent, but we could see twice as much expansion with two boards looking to recruit for their own leagues (competition nearly always improves work effort), and teams who may not agree with the direction one is going in may agree with the other. If the leagues are run in different ways in which people prefer, then there is a little something for everyone.
If one is clearly a lot stronger than the other, then we will see over time.
I just hope that there isn't that much bad blood between the two that a National Grand Final cannot be organised at some point, or (main worry) that USARL players are overlooked for the national team. An All-Stars game is another huge event they could add to the calendar. Possibly something to try and get expansion going in new area by playing it there (could be considered "neutral" then).