Do you think that someone who passes at 50% first time is better than someone who after 3 attempts finally passes at say 60%? Who do you think understand the concepts better?
There are people who are lucky enough to scrap a pass first time but this does not mean that they fully understood the syllabus or even reach an acceptable standard.
The 10 year limit is there for a reason and soon there will be another time limit. So I honestly think that allowing unlimited resit opportunities, does not lower the overall standard of the qualification.