It's not the same as consolation though. In there you can face the worst 8 countries in the ranking as well as top 8 countries (which are not in the world cup). In EC, groups are still balanced. Successful countries will still be successful and less successful countries will still not be advancing. However, this change makes it so successful countries have to strategize more than before. First 4 games have always been easy TIE which in my opinion is very stupid. Now there is no "warm-up" phase and I don't know how anyone can think it's a bad idea.
And don't worry about losing your privilege's. You are doing great job in Slovenia with your youngsters so I have no doubt you will succeed now as well. Maybe just more strategizing needed with when to use enthusiasm.