Yup. I like young players getting guaranteed money at years 0-6 at the expense of 1 or 2 of their free agent years. Seems like a reasonable trade off. Now as you said if they start to pay players better early in their careers, then the good players will still get extensions, and the elite players will still get insane contracts, but the younger developing talent will be better compensated for their early years.
Really the only players that get screwed are the older/replacement level types, but that was going to happen regardless with smarter front offices.