On the other hand guilds now have no reason whatsoever to bring socials/not the best players along for raids.
Before those people could "pay" for a "carry" with giving raiders priority for loot, so there was an incitement to bring them along.
Now those people are "benched" and often don't get to do the raids as their is no material gain for bringing them along.
In the 2 guilds I have been in since this new system the "wall" between the raiders and "the rabble" in the guild has become air-tight because of this.
And I don't believe for one second that "fairness" was the reason that Blizzard changed the loot system.
Blizzard simply did it because of all the tickets, fair or not, about loot. And each ticket costs Blizz money.
So to sum up: The loot system is more "fair" now, but on the other hand the good players have even less reason to carry bad players than they had before, to the detriment of the bad players.