So Australia has fixed cutoff of 60 to be eligible and 65 is the current cutoff there (except for some professions where demand is high) to get a PR. It needs 7+ in all sections, bachelors degree 5 years of experience and age between 25 to 32.
For an equivalent profile, one can get only 384 points in Canada. If there is a bump in listening, the score can go up to 429 and the present cutoff is around that range. Someone with 415 will still have to have a bachelors degree and CLB9, except that they would have lost points for the age. I don't think Canada would be able to get a better profile than these as the person has maximum scores for experience as well as English tests. These people still have high human capital.
If the scores stay above 450 or 460, only people who have Master degree (either inland or out land) will alone stand a chance. Master degrees don't mean much for employment in most industries. Bachelor degree is more than sufficient for most NOCs. So this must be the rationale behind lowering the cutoffs and I don't see any problem with this. It is not a easy pass as not everyone can ace IELTS with CLB9 or CLB10.