In the discussion, the focus is on the effect of multiplying a chemical reaction equation on the equilibrium constant. When the reaction H2 + 1/2 O2 → H2O is multiplied by 2, the equilibrium constant changes to K^2. This indicates that while the value of the equilibrium constant is altered due to the new stoichiometry, the results of equilibrium calculations remain consistent when the appropriate constant is used in relation to the modified equation. The conversation highlights the distinction between the equilibrium constant's value and its application in calculations, emphasizing that intensive or molar quantities are unaffected by this change.