This will not create more free tables for guests that are walk-ups. It creates a higher capacity for early bookings of reservations, designed as a way to prevent guests from making reservations they know they can't keep, and allowing guests who will show up and pay to be there instead.
This is not a policy that is guest friendly by any way of looking at it, and those who are defending it aren't looking at the hard facts. Not to mention, they're not looking at the competition and the market overall.
This policy does nothing to please the locals, and once again shows that Disney doesn't give a rat's about day guests.
And by the way, for those of you that insist that Disney didn't create this problem:
When you have more people in the parks, you have to expand your restaurant facilities and selections. Disney hasn't even kept up with expanding the rides to meet capacity, let alone food options. This is what you get when you add thousands of DVC Units and very few additional restaurants in the places that actually need them. (Here's a hint for anyone from management reading this, it's the Magic Kingdom Stupid!) Be Our Guest doesn't cut it. The Magic Kingdom needs about 4 more restaurants and 8 more attractions (like, actual rides, not interactive games and meet and greets / shows) before the park will be where it needs to be.