If you think about it, this new test makes WAY more sense than the old one.
Car manufacturers are required to meet federal emission standards throughout the "useful life" of the vehicle, which is roughly 193,000km (120k mi). The OBD system is put in place to ensure that the car is performing at a level that does not cause the vehicle emissions to rise above an appropriate threshold.
Basically, this test just confirms that your car is running as the manufacturer intended (unless you "cheated" or defeated the system in some way). IMO, it's logical.
The only downfall is that past 193,000km, the manufacturer has no obligation to ensure the systems are reliable. So after that mileage, you might see things like catalytic converters, etc. deteriorating to the point where expensive repairs are needed to pass this test.