Especially after we saw how happy the EU was to negotiate (they didn't budge) when https://en.wikipedia.org/wiki/2014_Swiss_immigration_initiat... passed.
The new initiative is basically the same, but with no leeway to ignore it.
(that said I suspect if it passes, there will be something tied to the bilateral referendum in 2027/28 to try to supersede it)
> if it passes, there will be something tied to the bilateral referendum in 2027/28 to try to supersede it
This is my thinking, too. If it really comes down to Chexit-or-nothing, we’ll have another referendum.