I'm a postdoctoral researcher who's on a 457 visa out of my PhD. The new 457 replacement requires 3 years of work experience, so we cannot hire people from overseas who've just finished their PhDs. Without a permanent residency outcome we cannot keep these people after their initial contract (which is my own plan). They doubled the price but that's OK (for us!) since the university's reallocation funds pay for that.
This is short-sighted pandering to the far-right who've been clamoring for this, and science loses.