Ehh. The problem is teams that don’t need the help nearly as much are getting a huge boost in odds. It mechanistically works against parity and it hasn’t reduced tanking, so I think that’s a failure. In fact, one could argue it’s increased tanking in worse ways since teams are now incentivized to tank out of the play-in.
Regulating how often teams get to the top of the draft is light-years better of a solution, IMO. Teams will know whether it’s even possible to get to the top of the draft, it wouldn’t make much sense to tank in consecutive years, but organically bad teams stuck in a rut will still have better picks on average and much higher odds of hitting high once in a shorter window.