If by Very Very small you mean that tens of thousands of people that would not feel comfortable openly displaying their weapon are now free to carry concealed without the need to get a permit, then I guess you're right, such a hollow victory. /sarcasm.DING! DING! DING! We have a winner!
To those that claim that silence is golden, failure to answer correctly to the officer could result in a more serious charge.
With a $100 fine no one is likely to fight this. With the law as it is now, a $1000 fine, people will fight. A $100 fine people won't fight, and no lawyer will take that case. People that do fight will likely have an officer as a no-show in court, resulting in the charge getting thrown out. Thrown out or not the officer made their point, "you will obey."
To those that think keeping quiet is the best policy, that could result in a more serious charge. To those that say people should just get a license, then nothing has changed. To those that say you should just follow the law and inform, I give the example that NavyLCDR gave above.
I won't go so far as NavyLCDR and claim this bill would be a loss if passed, I will say that if there is a gain it is very very small.