IFAs have always been overpriced due to the nature of an open market where everybody can bid on them. IFAs were more likely to be major league ready, or closer to major league ready than draft prospects, so that made them more attractive.
The recent update was not intended to make it impossible for IFAs to be major league ready, but to make it more difficult to determine if they were legit ML prospects, and how close to ML ready they actually were. The "blue chip" IFAs usually had high starting demands, which was an red flag indicator that they were legit ML prospects. You could have a low IFA scouting budget, but if you saw an IFA with initial demands of $4m or more, then without even looking at ratings you would know he was somebody worth pursuing. That loophole has been closed. And now, with no current ratings to determine where he is now, and fuzzier projected ratings to determine where he may end up, the IFA process is more of a gamble than it was before. There is much more incentive to go with a higher IFA budget (for less fuzzy projections) than there was before. So in that respect, the update is accomplishing what it intended to do.