I don't like it myself. If it goes through like this, it'll make no difference to me. I'll still be operating under Sport Pilot rather than risking flunking a 10-year medical and having to go through all that rigamarole. It'd be nice to occasionally fly some "big iron" like a Cessna 150, but I guess I'll be sticking with my Fly Baby.
BUT....
I can see this being an end-around for the objections raised by the AMA and ALPA. They scream, "IT'S UNSAFE THAT SKYHAWK PILOTS DON'T HAVE MEDICALS", and the reaction is, "Well, there will still be a process to medically monitor the pilots."
For the most part, elimination of the traditional Class III medical is basically immaterial as to the future of aviation. They help older pilots like myself keep flying longer, but do little towards helping NEW people start flying. Any potential newcomers who had objections to the old Class III process will probably be mollified by a ten-year medical requirement.
Ron Wanttaja