As of last week, 263 fraternity and independent living group (ILG) bids had been accepted. This is quite a bit lower than the typical number of fraternity bids accepted when I was there, which was 350-400.
Several houses have zero new members, and some have just one or two.
The administration has predicted that some of the smaller fraternities may close due to low numbers under the new system. Sadly, I think they're right.