If I were to release a new version of a library with support for the dotnet5.4 moniker, will it be consumable from .NET Core 1.0 RC2 or will I need to explicitly release a new version that targets netstandardX?
(I realise these monikers aren't actually equivalent, its more about maintaining support for .NET Core)
"dotnet" monikers are mapped to "netstandard", so you should use dotnet for now.
Note that dotnet5.4 is a little restrictive in that it only runs on .NET Framework 4.6 or later, Universal Windows Platform 10 (UWP), DNX Core 5.0 and Mono/Xamarin platforms.
EDIT: According to David Fowler my original answer is incorrect and "dotnet" and "netstandard" are not interchangeable anymore. You'll need to import dotnet5.x explicitly.