I love Path and use it daily as my primary social app. It is the only ad-free, private, social network that I know of. Plus it's got a great simplistic design that's easy and fun to use that has only gotten better over time. It will be a big loss if something as special as Path goes away.
Here's hoping, if this rumor is true that Apple won't completely dismantle Path or change it so much that it's unrecognizable.