This might have unwanted consequences. If a studio relocates a head office? Perhaps moving a shoot to another state/country?
This is a bit like the spinning machines in the UK in the 1800's - it might be an inexorable shift, much like movies impacted live theater in the 1900's - progress is inexorable and people adapt to work with it.
Right now 4K and even 8K cameras are well under $5K - I can remember when a studio betacam cost $80K and rented for $1K/day, with a 3 day week. Lenses have not fallen as much = down 60% or so, but they live for decades and with adaptors fit the new cheap cams, You can even shoot a passable film with a high end phone(usually with a holder to steady it).
The whole props rental business is in decline with photographs being capable to be mogged into scenes with modern photo editors.
I think the screen actors guild is well aware of this and are scurrying to adapt , hence the law.