Interesting to contemplate the fallout of this.
The CPC and Prime Minister Harper could use the "New Broom Sweeps Clean" approach to restock the Senate with (hopefully) better Senators, but I suspect they will try to use this as a means to bring Senate reform front and centre for the election. Since this is one of the PM's pet projects, this might provide the push needed to bring about some form of Senate reform and an elected or at least term limited Senate.
Not sure how the "Big Flush" will affect the LPC. The pre emptive dismissal of Liberal Senators from the caucus "might" save the LPC from the damaging effects, but the fact the Liberal Senators have essentially stood firm on their identity as Liberals isn't going to provide as much separation as the Young Dauphin's handlers might want.
Of course since the NDP is all for Senate reform (abolition), they can be counted on to provide some support for cleaning the mess, just their solution isn't going to fly in the courts.