(Assuming the coalition forms a government)
In the short term probably not very much. The parties that are forming coalitions usually have bright red lines that prevent them from cooperating, but most of them are just going to push those to the side for the sake getting Netanyahu out of there and letting him stand trial without being able to meddle in the process. This probably means that the status quo will continue as far as the big issues of Arab or Palestinian rights, settlements, security measures etc.
The other thing is that the rightwing Zionist parties have a lot less to lose than everyone else. If this entire thing breaks down, Bennett will probably find himself back in the cabinet of another right wing government that mostly agrees with him, whereas Labor will be sidelined again watching the government continue to move away from their vision for Israeli-Palestinian relations.
I think in the long term this could be positive in a few ways. I think that the Zionist left (and even the center for that matter) had a legitimacy problem where they were shut out of government for so long they had no way to make their case, so this is another opportunity to do that.
I also think while it’s a party with some pretty crappy views, the United Arab List’s role in the government and current strategy could be a positive. It’s basically been a given that the Arab parties shut themselves out of Isreali politics in perpetuity because some of what they want, like a protected minority status for Arabs, an end to the occupation etc. are so far ideologically separated from most other parties that they are never able to have any influence. This is also intertwined with the fact that the other Arab parties generally only consider forming a coalition with left-wing parties, which is kind of like saying you’ll only bet on the Washington Generals. Mansour Abbas has taken the strategy that he’s fine negotiating with anyone and will put off the big picture questions of Arab-Jewish relations to get some wins on things like economic opportuinties and building and water access for Arab-Israelis. I think if this becomes a new-normal long term it would probably be a positive for relations, but it’s like a step 1 out of 100 for moving the needle on larger Israel-Palestine relations.