So are they abandoning all pretence that there is any safe route down there ...
Can't say I've found it especially unsafe. Turning left from Haymarket allows you to cross the tracks at a good angle at the top. I only ever cross the first two tracks and ride down between the tramlines. At the bottom the curve of the tracks gets you a good angle if you don't go too far down. Coming up you don't need to cross the tracks at all (unless there's a van parked on the double yellows).
I suppose the lights will control the left turn once the trams are running although you might have to cross three tracks to get to the centre of the eastbound line. But having crossed it hundreds of times in all weathers I can't say that it's anything like the main Haymarket problem.