I see your point, but I do believe in the long run there would actually be less of a backlog on the applications. I'd also bet that less than a quarter of the amount of people to complain about the wait times would complain about the applications closed, as people tend to care more when they've spent time on something, rather when they get a definitive "no."
and sure it'd take the same amount of time to get through them, but from what I'm hearing they don't stop coming, and they're in fact going up. While it is entirely voluntary, any type of worker thrives on motivation, and you can't get motivated by hacking away at something that just keeps increasing. Progress creates motivation. But in the end it was just a suggestion, and to be fair, I don't know what goes on on the other side.