You seem to refer to in your question to quantum foam/quantum gas models which posit that QFT is an epiphenomenon of an underlying physics which is discrete and/or statistical-mechanical at the Planck scale, or below.
In such models the foam/gas is usually assumed to be randomly distributed (e.g. Poisson distributed), because Poisson distribution provides Lorenz invariance to a high accuracy over large scales (not necessarily absolutely, but exceeding the current bounds of our ability to measure).
In discrete fluid models (e.g. gas-like "hard sphere" models) we should expect fundamental limit to the wavelength of a photon in the same way as there is an upper frequency limit (lower wavelength limit) to sound waves in a gas. As the wavelength approaches the mean free path (in this case usually assumed to be around the Planck scale) we would expect "something different" to happen.
What exactly will happen will depend very much on the properties of the fluid.
By way of example, consider a classical ideal gas in which the wave velocity (speed of sound/light) is $c$ and the mean free path is $\ell_P$ (the Planck length).
In monatomic gases such as helium, neon, xenon etc attenuation is insignificant at low frequencies, but rises with the square of the frequency. At some point where the wavelength approaches the mean free path length (average distance between collisions) the contribution to the kinetic energy of atoms due to the wave becomes much larger than variance in the distribution of kinetic energy due to the thermal motion of the atoms. Therefore we expect that the random thermal motion of the atoms will tend to quickly disperse the wave energy as heat.
Very roughly, if we take the "square of frequency" seriously, we might say that a wavelength of $\lambda = \ell_P $ will attenuate in about $1 \ell_P $, and a wavelength of $2 \ell_P $ will attenuate in about $4 \ell_P $. Again roughly, the attenuation distance will be proportional to the $\lambda^2/\ell_P$ . To put it another way, the attenuation distance is roughly proportional to $\lambda \frac{\lambda}{\ell_P}$ (i.e. the wavelength, multiplied by the ratio of the wavelength to the mean free path length, the Planck length in this example).
Some rough examples follow:
For a 1m radio wave, the vacuum attenuation distance would be proportional to $10^{35}$ metres, or a trillion times the diameter of the observable universe.
For the CMBR, about 1mm wavelength, the vacuum attenuation distance would be proportional to $10^{-6}/10^{-35} = 10^{29}$ metres, about a million times the diameter of the observable universe.
1000nm infra-red light (wavelength $10^{-6}$ metres) would attenuate over $10^{-12}/10^{-35} = 10^{23}$ metres, or about the diameter of the universe or so.
A 0.1nm x-ray laser (10^-10 metres) would attenuate over $10^{-20}/10^{-35} = 10^{15}$ metres or 0.1 light year.
A $10^{20}$Hz photon has a wavelength about $10^{-13}$ and would attenuate after about $10^9$ metres - a million kilometres, or about 3 seconds.
A $10^{30}$Hz photon has a wavelength about $10^{-23}$ metres and would attenuate after about $10^{-12}$ metres ($10^{-21}$ seconds).
Highest energy photon candidate observed according to https://arxiv.org/abs/0903.1127 is on the order of $10^{19}ev$, or $10^{-25}$ metres and would attenuate after $10^{-50}/10^{-35} = 10^{-15}$ metres, or about the diameter of a proton.
Very probably I have made several errors above. The general point is when the frequency is small (wavelength is large), attenuation is close to zero. As frequency rises, attenuation will at some point become observable and this will cast light on the underlying physics (if any).
TL;DR: There are many theories for what the New Physics will turn out to be. Good search terms include "Stochastic quantization", "Spin foam", "zitterbewegung".