I don't like it. When a kid commits, the kid should be held responsible and having to sit for a year ensures that kids won't transfer willy nilly. Further, if a coach leaves or there's some other legit reason for a kid to transfer, there's already a process to make that happen.
What's potentially more interesting is the last paragraph where they talk about graduate transfers. In the current setup, a kid who graduates can transfer and play immediately, which I kind of like. What they're suggesting now is that the program must offer the scholly for 2 years (length of time necessary to get most graduate degrees). This is interesting in that if we offered somebody like Tarik Black a scholarship to play out his last year of eligibility, we'd have to give him a 2 year scholarship even if he only had one year of eligibility left. If they're saying that the kid could then go pro, but we'd have a scholarship tied up in limbo, that I wonder how that would work. In any case, it throws some interesting considerations on grad transfers too.
IMHO, anything that provides a little stability into the mix is a good thing. I hate the one-and-done phenomenon and think it makes coaches' jobs unnecessarily difficult. In an ideal world, I'd love it if kids stayed a MINIMUM of 3 years. It would lead to more stability, force potential OAD's into making a choice between college and the Dev League, and (I believe) would make some of the recruiting shenanigans (i.e. "loaned cars") decrease. If you're a OAD, I think there's more of a temptation to push the rules a little since your next job in the NBA is right around the corner. If you commit to 3 years, you'd know going in that you've got to go to class, follow the rules, and actually be a "student" for a while. Right now if you're a OAD, you can pretty much stop going to class in the 2nd semester and by the time you become "ineligible" scholastically, the season is over.
Quick example: my son is a sophomore in college and he doesn't even START his 2nd semester classes for another week. While this varies from school to school, he could probably get into the 2nd week of February before his professors would even begin to wonder where he was.
