What monetary value would the US military place on a collision like this? I.e., is it higher than the cost of developing a mitigation strategy?
By mitigation strategy I mean some kind of ready-to-launch lightweight device which would match the satellite's orbit, rendezvous and give it a nudge. Or a giant pillow...whatever works.
If the lateness of this alert is typical of the capabilities of prediction, the only realistic mitigation strategy is debris removal... systematically, over a period of years that is. (A.K.A, Planning ahead.)
Otherwise, we'll be spectators as we were yesterday.
Oh, maybe we can all cross our fingers, too, and hope the cascade doesn't trigger. Sounds affordable.