Think of what this system teaches: everything can be "re-done" later. Measure once, cut twice.
Yup. However, when I read this, I thought of forumites who allow students to re-do papers. I never heard of that before I read it on the fora and certainly never experienced it as a student. You write your paper, turn it in, and get your marks. No do overs. If I can constantly redo a paper, when do I learn my lesson and pay attention to what I'm doing? And if I keep getting low scores, than either that's what I'm capable of or I just don't want to do the work. Either way, I deserve the grade I got.
Last term I had a grad student ask if I'd read a class assignment before submission. I was floored. No. You do your best and hand it in. If this were a thesis, that's a different ball game, but to read a regular assignment? Not gonna happen.
I can imagine what these kids will be like if/when they get to college.