If they really can keep the EIS requirement away, it will be great for the final development. The budgets for creating Major Investment Studies and Environmental Impact Statements are never sufficient to properly develop designs to catch many major cost impacts that only come out during actual design.
The EIS is supposed to be about the Environmental impacts , not the costs.
But I would agree that in this location and situation , there is little point to one, but the process of how that is decided needs to be carefully handled to avoid creating precedents.