That's a question that could take pages to answer.

But let me try to provide some info. There was a post on this forum about that separation. It's here if you want to look at it (or you may have already):
https://slinging.org/forum/YaBB.pl?num=1636192449. This indicates that Pep was not elected (re-elected?) as the president, and that's when the split happened.
That split makes things a little hard to track because names changed. From what I can tell, what we might consider the first Slinging World Cup was still under the International Sling Meeting (specifically the 7th). Here are the posts on that:
https://slinging.org/forum/YaBB.pl?num=1580141635 and
https://slinging.org/forum/YaBB.pl?num=1577049479. That seems to line up because in the video included in the first link I provided above, Pep mentions that the event took place in Palma. That was in 2020.
The second one in 2021 is the first one I see where the World Cup (Copa Del Mundo) was used,
https://slinging.org/forum/YaBB.pl?num=1617103242. And then between that and the third year (
https://slinging.org/forum/YaBB.pl?num=1657804065) is when Pep and the Balearic Federation were officially separated. So since the 3rd Slinging World Cup, it's been under Pep's control.
In regard to impacts we might see, I think it's already kind of happened. The information I have on these things is minimal, but at the last WC Pep talked to us about his acceptance of different slings and styles that (according to some) don't really have a place in more traditional Balearic tournaments. To be honest, I don't really disagree with that. I understand the notion of holding on to certain historic traditions. Just one quick example of this, I believe to compete at the Balearic tournament in Mallorca, you need to use a natural fiber sling. I'm not 100% certain of that, so if I'm wrong someone please correct me. But at the World Cup, anything goes. As long as you're using a sling to throw a ball/stone at the target, any materials, types, and styles are fair game. That's so individuals or groups coming in from around the world can do things in their own way instead of trying to adjust to the local way.
I know there's a lot more to it that I have no knowledge of, but the difference of opinion between adhering to certain traditions and expanding internationally to whatever might come along was part of the split. I do remember someone saying once upon a time that Pep loves adding flags to the World Cup flyer. While I think it's possible for anyone (meaning international people) to compete in the Balearic competitions in Mallorca, I don't think that's something that's really advertised anywhere. Again, grain of salt because my knowledge is very limited.
Sorry for the long post. Hopefully there was something interesting or useful in there.