Question is will any colleges of value accept such an exam?
Personal opinion ahead:
The kinds of students who take this exam over say SAT and ACT may come from environments that have less exposure to the real world. As an upstanding college I may see these people as being less adept and more risky. If I care only about money, then I could use this exam as a funnel to acquire students who don’t know any better. Many don’t realize that it isn’t only college but quality of education that matters.