Personally, I think its not a bad idea. Morse code is a largely unused communication and think that eliminating it from advanced licenses is probably a good thing.
However, if this opens flood gates for everyone to become a HAM, do you run the risk of crowding radio frequencies and becoming more of a CB thing? I'm not sure exactly what my take it. Obviously, I became a Technician without code, and I don't think losing code on the rest will neccessarily open the floodgates. I think, however, that it will encourage people like me who enjoy the hobby to advance forward in it.
If it encourages advancement in the hobby, I'm all for it, but I would hold my skeptism til I felt it wasn't becoming a CB type thing. My concerns for that, though, after seeing how its evolved since dropping code for Technicians, I guess I would lean more to being for it.