Unless medical research is someone's passion, the creativity and intuition needed to break through to new cures likely will not be present. This proposed system will introduce many new worker drones to the field, but likely few additions who actually love the subject.
So if funding stays the same, I bet a lot of the people with actual passion for the subject will be pushed out in favor of people with perfect resumes but little passion. Hence, perhaps cures will come around even more slowly.
I also feel that biology requires a different mindset from those who would rather go into physics or engineering. Back in high school I would always excel in biology while one of my friends would excel in physics. On the other hand, it took much more work to also do well in the other's field.
Although some complain that biology is more about rote memorization, I've found that that works only if you want to pass the test. Understanding something like gene->protein is much more interesting when you try to understand the context and reasons for everything. It's hard to explain, but I get the impression that biology requires a stronger understanding of how large systems work, while physics requires a strong ability to manipulate and refactor situations to solve problems.
So if funding stays the same, I bet a lot of the people with actual passion for the subject will be pushed out in favor of people with perfect resumes but little passion. Hence, perhaps cures will come around even more slowly.