It depend on how they get to the page. If they use a url that has the old key in it, then yes, they'll get the page moved thing and a redirect. If they use the short url or one with the page key in it, then they won't. Internal links in confluence will take them directly to the page as well.
You have to differentiate between renaming the SpaceKey and the SpaceName.
In Confluence UI you should only be able to rename the SpaceName. This won't break anything as it is not used in any links, macros, etc.
However renaming the SpaceKey would potentially break a lot within that space, in other spaces pointing to this space, etc. (however this requires some workaround and can't be done in the UI).
Phew, Atlassian Team 2021 blew by. With dozens of demos and a handful of keynotes, you may have missed some of the awesome Confluence Cloud sessions. Don't' worry, you can watch them all here or on Y...
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