Will graduate transfer rule eliminate red shirting?

The more I have thought about it in college basketball and to a lesser extent football, it seems to me the graduate transfer rule almost eliminate the benefits to red shirting. Why would a coach want to run the risk of allowing the red shirt candidate a year of both physical and mental skill development for the purpose of future contributions when the success of the efforts can be rewarded by a free pass to another program and another coach? Maybe this is not as problematic as it will become. But, it just seems to me that the red shirting decision is a harder decision because of the graduate transfer risk. Anybody agree/disagree?