Some things we might never have again. For instance you might not get sufficient utility out of strawberries at $30/kg. The market for people who do might be very small. Then the guy who wants to grow strawberries at cost X, the guy who wants to get strawberries at cost Y, and the guy who wants to be paid to pick strawberries at cost Z all want to indulge in the activity but because one part of the chain falls below a legislated minimum, an economically efficient action does not occur.
That doesn't mean it's bad that it doesn't occur. Just that if the equilibrium price has any link of the chain be legally unacceptable you might literally kill a market. There is no new equilibrium. There just isn't product.