Phrases or idioms using this form are NOT reserved to unlikely events/outcomes or ad ones, but to any consequences.
It means simply "who can tell (the outcomes)" - "Its difficult to guess/foretell (the consequences)", or in Hebrew - מי יכול לחזות אותם.
That's exactly what "Foresee" means - לחזות, לצפות מראש
(Please look it up :-) ==>
http://milon.g.co.il/targum/Foresee)
"Foresee" is also not limited to a specific kind of outcom.
I think "estimate" really misses the part of outcomes and future.
You can estimate the present status of something.
Some examples in Hebrew:
ואחריתו מי ישורנה (bad)
but also (using plural):
צעד חשוב שפירותיו מי ישורם