There’s still 85 for every FBS team and a max of 65 for FCS. Unless you mess with total years in programs or changes the number of teams, then there’s the same number of spots.
It can cascade down to where guys who would end up low FBS end up in FCS but that will be fringe players. And the free transfer will help G5 schools just as much as guys who want PT now get out.
For the most part transfers don’t amount to much and don’t perform anywhere near their initial rating