Definitely one of my favorite parts about 5e, they finally solved the annoying armor issue that plagued D&D since version 2.
It's more they shifted the issue.
Since with the 5e approach you have the whole "Everyone just wears Medium/Heavy Armour" thing because there's no downsides to doing so. So things like Light Armour and stuff like Mage Armour/Barkskin are massively devalued.
I'll admit that the prior version where Arcane spells could simply fail randomly because you were wearing something more sturdy than tissue paper was not a particularly fun mechanic. But it at least made clothes/Light armour relevant (Even more so when classes like Bard got perks that removed the malus from Light Armour). It also provided more of a distinction between Arcane and Divine magic (In 5e there's no difference besides Divine casters just getting their full spell list for free while Arcane casters have to pick things to learn with Wizards having their additional scribing source of spells)
So yeah, now we have to deal with the issue of defence creep due to everyone running around in heavier armour and wielding shields for much higher AC's (And overall more competition between gear since everyone wants the best Medium/Heavy armour to wear) as opposed to having to deal with the issue of the spell failures chance and the risk/reward that wearing heavier armour brought for Arcane casters as a result.