Will Egypt’s Elections Fail?

Marc Lynch fears they will:

It's no secret that many [Egyptian] activists are deeply disenchanted with the SCAF-led political process.  They see street protests as the source of their power, and understand their identity as the "soul of the revolution." They have done little to prepare for elections and don't look likely to win.  Some view the coming elections as themselves counter-revolutionary since they will likely produce a Parliament dominated by Islamists and ex-NDP fulul.  When I was in Egypt in July, I already began hearing whispers that activists might boycott the elections.  Those are now spilling out into public.

Will activists actually boycott?  What would happen if they did? I think that it is distressingly likely, and growing more so, and that it would be a disaster.