I agree with shrinking the 2 year program some but sure hope they take their time increasing the 1y class size so they don't devalue it by accepting mediocre applicants.
Based on what I have seen and heard the expansion of the 1y program is heavily influenced by some of the consulting companies that recruit. Several, especially BCG love to send their current employees through the one year program for a variety of reason...such as it costs them a lot less and they don't lose their people for 2 years.
If they can get big name consulting companies to influence current employees to choose Kellogg's 1y over other 2 year options then it will be a big help to the school. It ensures better employment stats (more top tier MC and that pulls up the pay) and lets them pump more people into their alumni ranks. As long as they don't water down the admission requirements for the 1y it is a good thing.
https://www.envisionkellogg.com/