While I can definitely see the pros of this, to me the cons outweigh them immensely. In effect, the MCAT just became more important than step 1: good luck to all the mid/low tier MDs, DOs, and IMGs. While the MCAT was the great equalizer for people (like me) who went to practically unknown undergrads, that is no longer an option for medical students applying to residency. So what's going to set you apart now--research you're not particularly interested in? Variable and completely subjective clinical year 3 grades? School prestige? The rat race of unofficial checkboxes we saw in undergrad to med school (that I personally loathed) just got extended three years and upward mobility just became a lot harder for those not at T25s.
For many, this will affect the decision on where to attend in unhealthy ways: possible having to choose between wellness and familiarity (i.e. lower ranked state schools) and higher ranked schools in cities you don't particularly enjoy just to keep the doors open for competitive specialties. Like I've seen elsewhere, I feel like this will continue to make medicine an "old boys club." Even if it does get rid of the wellness barrier of overvaluing step 1 scores, now step 2 will become the make-or-break test. It just doesn't make sense. Bad move, NBME.