They’ve had a year with the students they admitted with no SAT. So they have one year of instructor experience with students selected without benefit of SATs. 700 or so students, two semesters of examinations. That’s plenty of data to see a dramatic fall in student preparedness.
It's most certainly not enough data. There is no way that academic OUTCOMES of a 4-year degree program can be measured by a couple exams from introductory courses during a time when classes were moved to being online.
Even if this "robust" data indeed showed that academic outcomes were worse over the course of one year, how can that possibly be attributed to not viewing students' SAT scores instead of, say, the entire classroom experience being upended and moved online?