It’s been live for 15 years.
I should know. I arrived in the UK on the points system
https://twitter.com/pritipatel/status/1333828101751648262
I should know. I arrived in the UK on the points system

A few thoughts on the “points system”: many countries have had one (incl UK) for two decades. Countries have different income thresholds, but the idea is to encourage younger, higher earning and/or skilled/educated migrants.
As I was a software developer, I could score enough points to go to Canada, NZ, Aus- but chose the UK because of familiarity and because I loved the idea of living in London, an international city.
However, it cost me £800 and 6 months of administrative headache every two years to renew it. During that time, my passport was kept by the Home Office (fewer staff coz austerity) and that prevented me from travelling anywhere.
I expect this to get worse. There are literally hundreds of informative & very engaged websites and Facebook groups where potential skilled migrants go for research. The UK is not faring well.
Overall, Brexit and the loss of FoM makes the UK less attractive, not more.
Overall, Brexit and the loss of FoM makes the UK less attractive, not more.
But I suppose the goal is to get fewer immigrants. So that will definitely be achieved now because no one, esp those who have the option of going elsewhere, wants to come to a country with bureacracy, a weak economy, few jobs and a depressed currency.