As a result, we still have 1/3 of the future leaders of American business/politics cheating and not facing any consequences. Princeton appears to be an unprincipled institution and is shown to lack any useful standard to evaluate the quality of its graduates. When you see a Princeton graduate with high marks you should always consider that they may have cheated to finish their degree.
Princeton is changing its policy because of the changed result.
As a non-cheater, I didn't want draconian measures to catch cheating, just wanted there to be real consequences when someone was caught. I didn't need 4.00, but what if I did?
I agree that humans are generally honorable for things with low stakes. Consider our cultural view of politicians for a non-SV example of where we fully expect high stakes to lead to selfish and dishonorable actions.
I personally believe this (that people are generally honest and good). BUT, the numbers don't lie: 30% of Princeton students admit to having cheated on an exam. This is a "your house is on fire" moment. An honor code has has to be enforced, and that is apparently not happening at Princeton. Frankly, as someone working at a school that also has an honor code (most do, in my experience), that is where the problem lies: if you turn a blind eye to violators, it sends the message to everyone that the honor code is just words, it doesn't mean anything.