I'll offer a few predictions - I read/watch many of Minister Sean Fraser's media interviews and also read IRCC memos. From what he's said, I believe the following are possible. I am speculating and could be wrong, but based on what he has said it is a reasonable guess to expect the following:
1. CEC-specific draws will continue. Last month, Canada only added 15,300 jobs. Why? Because there were not enough workers to go around. In an immigration context, this intersects with IRCC's preference and Minister Fraser's mandate letter which is to keep in-Canada workers. Thus, I feel it's reasonable to conclude that they will continue with CEC-specific draws because CEC applicants are already here, are likely employed, and losing them will cause further pressure in the labour market. They will like be very aggressively pushing for 6 month CEC processing times, because Canada is screwed if these workers leave or their permits expired, but I'm not sure if I believe they'll be able to meet a 6-month SLA.
2. NOC-specific draws are possible. Since being appointed Minister, I think Mr. Fraser will likely cause some shock to the whole Express Entry system as he is focussed on innovation. I believe in several of his interviews he mentioned it wasn't that Canada was facing a worker shortage, but that were very acute shortages for specific skills. Obviously this includes things like IT & healthcare. It is possible that we will see a new/amended program where candidates in specific NOCs are pulled out from the EE pool. Maybe like a "Express Entry Skills Specific Draw - NOCs X Y Z" like how the provinces do them. This is smart, because let's face it, what benefit is it to Canada to invite someone in a low demand NOC where there is no skills shortage?
3. All-program draws will commence on 500 CRS cut-offs. An internal IRCC memo stated exactly this - as people finish studying/gain Canadian work experience/have job offers etc., it makes sense that the first several draws will be extraordinarily competitive especially given reduced spots given the TR to PR pathway is expected to take a significant amount of spots in Canada's immigration target.
4. Long processing times are here to stay. As I mentioned above, I don't believe it when IRCC says things like they'll return to 12 month processing times for spousal applications and 6 months for CEC. COVID isn't over, and companies/governments love using it as an excuse for bad customer service. Given a 2m+ backlog, COVID restrictions/excuses from every bureaucratic organization around the world, no incentive to prioritize outland applicants other than Ukrainians and Afghanis, I think your typical FSW and outland PNP candidates without job offers will be in the back of the line and wait for much longer than in-Canada/CEC PR applications.
Selfishly, my hope is that they make it easier for IEC visa holders (like me) with CEC eligibility to obtain permanent residency. From having worked in Canada, IEC CEC candidates make exceptional employees and citizens - they already have very strong English, they typically come from a work culture where it is an easy to transition into Canadian work ethic, they've proven they can get jobs, they generally fit into Canadian values quite easily - but their CRS scores are low because they don't come from countries where there is such a high pressure to get an education or they use their work permits when they're older.