Can only speak for maths, but I would have preferred that the end of year exams had their weighting increased to compensate for the lost SACs. (But in general I don't like SACs and would prefer to just have 100% exams, perhaps with mid-year exams). I know that students regard exams as quite stressful, but I think they are a fairer assessment overall, and are more straightforward to prepare for.
On the reduction of content: I think the omission of inferential statistics from both Methods & Spesh can partially be taken as an admission from VCAA of how pointless and stupid the inclusion of those topics was. It would be better if they are removed from the new study design from 2022 onwards.
It is disappointing that Methods retained normal distributions (which is little more than an exercise in pushing buttons on CAS) but got rid of continuous probability distributions (which allowed for a connection between probability & calculus). Presumably this is because the normal distribution is required for Spesh. (Ugh).
Further is now extremely light on. The subject was already essentially just an arms race in who could practice the most past exam questions, but now it's even worse. I suspect that most schools will have finished data in term 1, and so now have two terms to cover finance and one module (which could normally be done in one term, or perhaps one term + a couple of weeks).
Obviously it's a difficult and unanticipated situation, but what has happened with the adjustments really highlights how awful the study designs were to begin with.