Unfortunately, I think it's too little, too late. It took nearly a year to introduce this system. Not only that, but the time period within which people could file a claim for compensation was often very short, only a few weeks in some instances and, I believe, four months at best.
Many people weren't even aware that they had to make a new claim, even though they had been in dispute with their airline for a year. It made no sense to require people to make a new claim. Unfortunately, measures should have been in place much more quickly.