I view this as a state's rights issue (OK, state's powers, as they can't have rights, not being individuals). From that narrow standpoint, it is OK. I'm not so sure of the wisdom of this (even if it would be tremendously advantageous to Republicans in Cali and NY). It comes dangerously close to effectively eliminating the Electoral College (even though literally doing so is almost impossible, given that it requires an Amendment), which is what the Dems seem to want (for now, until one of their candidates wins the EV and loses the popular vote).
I don’t see this plan as effectively eliminating the Electoral College. On the contrary, I see this as making it more representative of the people who are voting.
The Electoral College is after all, a legislature that sits for a single purpose. It is far from archaic. It is the most modern and innovative method for choosing a national executive. Currently, due to the winner take all system, the College represents only the states (except for Maine and Nebraska). A change would make it represent both the states and the people and would thus parallel the Congress, as intended.