This change is fair in all the skill-only games but in anything to do with luck this new system will always pull the highest of two players down regardless of who they play. This will cause a general flattening of the ratings and make them less meaningful.

As shown in the examples below, the formula won't balance the ratings at a point where they reflect the respective skill levels but will continue to penalise the higher rated player until both ratings are equal!

This is the case for everybody whatever their rating and whatever their skill level. In any set of matches against the same opponent, whichever player is the the higher rated of the pair will always go down more than they can possible earn - because luck will not allow them to earn what the formula says they should be capable of.