Crash seems to be implying that that an increase in favourite strike rates is a good thing,

Surely the goal is to have racing as competitive as possible? That should help eliminate turnoffs such as small fields, walkovers, an excess of runners on the limit weight, and horses past their prime no longer able to compete. Not to mention the suspicion that certain results have been prearranged by the participants.

With a proper RBP system (as opposed to the one in question) that goal would be approached.

However this desired increased competition would cause a decrease in favourite strike rates.