It's the latter.  So if both splits were done there'd be three trackers
(apologies if the ascii/unicode diagramming gets borked):


                  +-------------------+
                  | Friendly Feedback |
                  +-------------------+
                          ↓ ↑
                      Crowdsourced
                        Triaging
                        ↓      ↓
             +-----------+    +------------+
  Feature ←  |  Feature  |    |    Bug     | →  Bug
  Triager →  |  Request  |    |   Report   | ← Triager
   Team      |  Tracker  |    |   Tracker  |    Team
             +-----------+    +------------+
                        ↓      ↓
                       Developers
                       Developers
                       Developers

• If we can come up with a big unified system that makes everybody happy: Great!
• Even if this fails we could adapt that part to distribute it across many shoulders.
  For example we currently have a lot of forums / social networks / Launchpad answers / etc. - all of them could be part of the larger network with some experienced people taking on a kind of "moderator" role to feed features/bugs into the core trackers.

Eduard