If the law was changed just last year, I think it even more likely that it was done so that all this talk would get a lot of people to give up some money in penalties, effectively getting people to voluntarily pay a tax so they could stave off a forcible one for a bit.
Almost all actions of “the market” boil down to an impulse based on either fear or greed (to use the basest terms), making it easily manipulable. Only floating the idea of public comment on taking 401ks is enough to get a lot of people to freely surrender money they would otherwise keep. If enough do so, there will be no need to actually take the money for a little longer.
We won’t panic, but we will make you regret actually taking it, may be a better approach.
I thought about that, too, The law didn't change much. I may even be wrong. I seem to remember that you couldn't take it out unless you were rolling it over but now you can take without rolling it over with penalties.
My thinking is that by the time I am able to retire the tax rates will be equal to the tax rate plus penalty now.