The real benefit will be that salaried people will no longer be abused for free overtime. I doubt a whole lot of new overtime hours will be paid out. They’ll hire new part-timers instead.
Correction - only the salaried people who make less than $47K per year will no longer be abused for free overtime. The rest of us will continue to suck it up like adults and move to a new job if it’s too much.
If your issue is “free overtime” then why even have a salary limit to it? Or is your position one of “if you make more than $47K a year you’re part of the problem”?