Even if it originated with the previous admin, Jay Bhattacharya has decided to accelerate it. Seems like a good policy that both administrations agree on.
They effectively ended research they didn't want to release, wasting funding already provided, while counting it as wasteful spending.
They provide little to no real value beyond a CV trophy and only carry out the bare minimum to coordinate peer review. Their largest impact is siphoning tens of thousands of dollars from labs, and millions from cash-strapped university libraries.
Even if the current administration wasn't attacking university funding, the publishing system is in desperate need of reform.
Though arguably orthogonal with their goal of financially starving the research institutions, too.