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It's not necessarily the worst thing for Central London, where more residential and less commercial wouldn't actually be a bad thing, but overwhelmingly it'll create slums, e.g. where former commercial buildings in far-from-anywhere industrial estates are converted into shoebox-size 'flats'. In general, in an already far too developer-friendly planning system, which, as hoefla says, is in terrible disarray, removing even more safeguards against bad development is something only total idiots want.
Oliver Schick
Without wishing to start an argument, what’s ‘disastrous’ about it? Is it one of those things that sounds good in principle (ie repurpose over-shopped areas creating needed housing) but falls down at a micro level?