Hello, @Ballen 

Potential Impacts on SharePoint
Content Storage and Access:
Default Content Layer: If Box is set as the default content layer in Teams, admins can choose to hide primary access points to SharePoint and OneDrive see here: https://blog.box.com/box-and-microsoft-teams-better-together-Read More.

User Confusion: Hiding SharePoint and OneDrive can reduce friction and user confusion by streamlining where content lives. However, it may also require users to adapt to using Box instead of SharePoint for certain tasks.

Seamless Integration: Box integrates seamlessly with Microsoft Teams, allowing users to access, preview, create, and share Box files directly within Teams.

Co-Authoring: Users can co-author Microsoft Office files stored in Box directly from Teams, with all changes automatically saved to Box.

Administrative Considerations:
Management Overhead: Managing both Box and SharePoint might increase administrative overhead. Organizations need to ensure that both systems are properly configured and maintained.
Licensing Costs: If your organization is already paying for Office 365, which includes SharePoint, adding Box might result in additional licensing costs. It’s important to evaluate whether the benefits of using Box justify these costs.

I hope this  info is helpful to you.

Best Regard,
Gregory Chavez

Thanks @Ballen for the question. There is no impact to SharePoint and Teams functionality unless the admin decides a Box-only experience in Teams.

“For a Box-only content experience within Teams, turn off key content entry points into OneDrive and SharePoint as an O365 administrator. The setting ensures your end users fully adopt Box for content management with Teams and keeps content in the right place” 

Checkout this article for more details.