Arguably, any 32-bit binaries that still need to be supported are old now, and a pure 64-bit environment could afford to run them in emulation/JIT translation/whatever without noticeable performance issues.
No, because it is still x86-64, it just bypasses the bootstrapping process that exists right now going from 16 bit to 32 bit to 64 bit by starting the CPU in 64 bit mode.
However 32 bit registers and everything will continue to exist, and it will act like todays CPU's that went through the multiple bootstrap rounds to get into 64 bit mode.