“In other words, the difficulty will adjust pretty quickly should there be a low hash rate.”
This is correct depending on what everyone intends for “pretty quickily”.
For example if BCC mining starts with 0.1% of BTC hash power a long time is required to balance hash rate. At that ratio every blocks requires 10000 mins on average to be created, about 167 hours.
The adjustment algorithm updates the difficulty every six blocks so we should wait 1000 hours (42~ days) to see the first update on the difficulty.
After that the difficulty will be 1/4 of the current difficulty and the times to the next updates is also 1/4, about 10 days.
This is pretty quickly compared to Bitcoin difficulty adjustment algorithm but can be a very long period for an user.
