And where I work, which is a corporation although small, we have a similar setup. In fact, I think we are using some ordinary Linksys consumer thing for the office.
With the bond in fail-over mode, when the bond detects that the primary link (in this case Ethernet) goes down it sends ARPs out on the second link (WiFi) to update the ARP tables of all the bridges, switches and interfaces sending it traffic.
So it may lose a packet or two but TCP/IP quickly recovers.
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