And as for the 5-man rule in general, there are a lot of bad consequences. Most obviously, it helps the elite teams and hurts everyone else.
Beyond that, all we needed was a small tweak to address the issue that was initially at hand here (teams occasionally being gutted by early entries), and this was a sledgehammer.
It's even rich-get-richer among the top teams: If you get lucky one season and don't lose any EE's, you're going to be able to cash in the following season because you'll likely have a good # of seniors. And if you get unlucky and lose a couple EE's, you're screwed the next season, too, because you've got little-to-nothing in the way of seniors to protect you. It's a bad system.
Either cap it at two EE's per team, or just make each subsequent EE after the first one less likely. But the 5-man rule is bad.