I said, religion, because that was the arm I was addressing and yes, the impact, if and when we engage with an alien race will be profound and transformative in regards all the systemised ways in which we think and address reality, science, religion and philosophy. We imagine ourselves as nearing some pinnacle of understanding, but we will be informed by time if this is true or not.
There was a scientific gathering in the 1830s of many of the great thinkers and scientists of the age and they came away from that gathering with the conclusion that almost all that could be known via science was already known. Perhaps we have a touch of that same misguided hubris now?
There seems little doubt that something otherworldly is happening right now and that we are being exposed to it by increments we are able to digest.
The Baha'is believe their Prophet has laid down a set of teachings that the general themes of which will span about 500,000 years. There will still be Prophets every 1000 years or so, but they will teak and only modify the existing themes spanning this time range. After that period a new Prophet will arise who will usher in the next transformative set of teachings and many Baha'is speculate that this will be a teacher dealing with intergalactic issues. Pure speculation, but interesting that their thinking of what these next major issues might be.
As for religious texts being reinterpreted, yes they will, they are now in light of the scientific proofs and explanations that many religions simply can't face up to. We know that the Bible is not a literal account in Genesis, as an example and yet for many in a so called scientific age it remains a scripture of superstition and dogma, because this age is yet to place much value on truth.