Not the law yet, but as Scott Aaronson (I'm positive along with others) has pointed out, this would make their universities vastly less attractive to various incoming faculty. Whether that would be as impactful in STEM as in the humanities or human-interest areas like law remains to be seen.
> this would make their universities vastly less attractive to various incoming faculty ...but given the flood state of the academic labor market, still rather attractive.
But it's going to make it more difficult to continue hiring people who are seen as some of the best in the world in in-demand areas.