Not really. In most countries the income will already have been taxed at higher rates than used here in Thailand, so with the credit you get for the tax already paid no tax will be due in Thailand.
Sure, there will be some expats for which this will result in extra tax, especially if they have income that is not taxed in their home country, but which is taxable in Thailand. But for the majority it will just cause extra paperwork. Most serious high earners are not living in Thailand anyway.
Despite what some people here think, this move to tax foreign earned income is aimed at Thai people, not expats. We are just caught in the cross-fire.