They are putting in place mechanisms to put drags on those 2nd contracts - while they are reducing the ELS length by a year (for 18-21 yos), they are pushing back arbitration and UFA eligibility by a year.
For a player who breaks in at 18 yo.
18 yo: ELS
19 yo: ELS
20 yo: RFA, no arbitration rights
21 yo: RFA, no arbitration rights
22 yo: RFA, no arbitration rights
23 yo: RFA, arbitration eligible
24 yo: RFA, arbitration eligible
25 yo: RFA, arbitration eligible
26 yo: UFA eligible
The player would have very little leverage coming off their ELS deal, other than an Offer Sheet or a holdout - and with the 5 year limit on contracts they would still be an RFA at the end of their second contract.
In addition, they are removing the limits on team elected arbitration, allowing the team to take a player to arbitration every year until they hit UFA age if they chose - and those reduced no-leverage second contracts would be the comps.