It's intent is the same as every other gun registry bill before it.
They can dress up a pug as apoodle, but it's still a pug in snobby clothing.
They should simply DUMP the previous bills they're supposedly reforming with this instead.
I would LOVE to see the NFA-34 "Dumped"!
But the fact is our RKBA has been reduced one bill at a time, and will have to be restored the same way.
This bill is a start on that effort.
Now that would be the right thing to do, but it's not going to happen anytime soon. The only way those laws are going away in our lifetimes is for the Supreme Court to get off it's a$$, hear a case involving the National Firearms Act and declare the whole shebang to be the violation of the second amendment that it clearly is. However that's not much more likely than Congress and a President doing it.