The problem is that CASA will pervert the idea of a relaxed medical standard for private pilots. They will do this by restricting existing privileges available to the new class (for example IFR, controlled airspace,etc.) or by hedging the new class with restrictions so as to make it meaningless (for example limitations in respect of cancer, diabetes and other common conditions).
What we have now is a meaningless system and I don't believe CASA is going to do anything but window dressing. The phrase "all assistance except actual help" comes to mind.
I could go on.