I don't think there will be any punishment
Some of the players will end their international carreer (Henry, Gallas, probably Abidal...)
Some were kinda new-comers in the team (Gourcuff, Lloris, Mandanda, Carraso, Diaby, Valbuena, etc...) and just silently followed the leaders (Ribery, Anelka, Gallas, Abidal, Evra...)
There's a new coach coming (Laurent Blanc, wich was a key player from the '98 team and ex-coach of Bordeaux), he will need some of the players involved in that isue to go through the qualification round for Euro 2012.
Anelka may not play for France, ever. Maybe Ribery too (but I don't think so...)
So the worst that could happen is that the others "leaders" will be sacked from the team for some time, something like 6 months I think.