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It probably won't matter for long.
There will no doubt be other ways that the "authorities" can ensure the number of vehicles that drop out of MOT testing regimes it minimised over the next decade or two.
In fact I suspect that if you considered the figures for the vehicles known to exist - either taxed or SORN'd - there are so few of most models from the 70s and into the 80s that it hardly matters - although that could then be argued both ways.
More recent vehicles - from the late 90s onwards but especially from the mid 00s - will probably not survive long enough to meet the age critieria due to complexity of the electronics although the bodies have the potential to last well compared to the 70s and 80s.
Give it 10 to 20 years, if Government policies are to be believed and do in fact get implemented, there will no doubt be a raft of other regulations that will put ICE cars into some sort of restricted use situation and make older cars an impractical proposition for most potential owners.
For example, as soon as cars over a certain age are banned from towns and cities, as is already starting to happen in London for diesel commercial vehicles and Paris too iirc for cars, all monitored automatically by cameras and number plate recognition as a starting point, the number of potential buyers and regular users will likely plummet and so the cars will probably mostly disappear into some scrappage scheme.
The problems that youngsters have seem less to do with whether or not a car can pass an MOT and more to do with whether it is cheap to buy because it's a cut and shut that will split neatly in half in the event of almost any accident. Since the system seem unable to control those sorts of problems I doubt that the removal of 40 years old cars from MOT tests will have much impact. But then one could argue that the cost for the check is a good investment - so long as it does not result in a misapplied interpretation of a problem forcing an expensive repair for something that was not in any way relevant to the way the vehicle was likely to be used.
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