I don't have a cool acronym but sometimes simple is stupid.
Personally, this will set my team up well because I have a ton of players in arbitration. For the league it's going to be a bad thing though. Here's why. First, there'll be no such thing as a difficult decision in tendering a contract. Those 5th and 6th year players that you don't want to pay millions to now won't get cut. So this limits the free agent pool. Second, extensions are based on the 6th year contract so now extensions will be incredibly cheap which limits the free agent pool. Third, you're going to pump even more money into free agency because people will have it to spend since they're going to be saving it in arbitration. So few free agents, more money to spend, and that's not hard to see where that goes.
In addition, there's a reason why leagues have rules set date. It's so people can plan a strategy for their teams with confidence in the rules being stable. Right now there are teams that should be over the cap that have been allowed to continue bidding on free agents and acquiring players by restructuring contracts. Part of what makes this game fun is dealing with the cap constraints. The cap is meaningless if there are no consequences for going over. By changing the rules in midstream you're dramatically affecting results in here and you're dramatically changing the values of players. There's a ton of confusion in this league about the rules.