1) Step on own feet with a blatant cash grab, and call it Crysis 2.
2) Bemoan pirates and used game sales on crushing your industry.
3) Be slow to patch the game, and continue to have a broken multi-player experience.
4) Hope that the good will from the first game and warhead can bouy you through the lean times.
5) Discover that crappy games sell like crap, and discover that you can lose a lot of money.
6) Try to get into the F2P market, where quality issues can be overlooked because it's "free."
7) Know that your studio only had to release a similar quality game, but managed to fail at that. Realize that you're screwed, and will soon be another vestigial arm of the EA monster.
8) Profit??
Seriously though, this isn't a surprise. Crytek has been decent at building engines, but they haven't really hit the mark since Crysis 1. Once they lost the drive to produce a quality product, they sealed their own fate. I've read the big talk about a quality experience, but very little leads me to believe that Crytek learned their lesson...
Edit:
As Digibucc said, F2P can be very good gaming. I agree that games can arise from F2P that rival, or beat, a paid game. My issue is that Crytek has shown that they put little concern into games that require an up-front investment. That kind of lack-luster care, combined with blatant bashing of the gaming community as a "den of thieves and pirates," and my faith has completely evaporated.