This link convinced me otherwise. I wasn't too sure before (I'm a little ashamed to admit I hadn't been following the development of SB 1047).

I will also specifically share this talk on YouTube: https://www.youtube.com/watch?v=xoVJKj8lcNQ

I think this passing this bill would have probably been a very good idea. Not perfect, but far, very far from broken.

Edit: I'm actually not sure if we as a community gave this topic enough attention leading in the months leading up to the announcement of this decision.