I don't think the public option will happen but if it did I think history would look back on it as the first of many "public options." All of them ways to tax the private economy, grow the government and keep a needy public barefoot and pregnant with giveaways.
Next on the list might be free car insurance, free healthcare for pets and free college tuition. Next might be subsidized gasoline (we pay more so they pay less), foodstamps for half the people and hey - why "shouldn't" everyone have a big screen TV?