This measure restricts immigration, a declared goal of Trumps sdministration. And it basically tries to force Universities to open for the fall semester. Again something the administration wants.

It only works, so, if t holds up in court. There, Trumps administration doesn't have the best track record.

Not that.

I mean, the commenter argued that this whole thing is better for the business even nearby the campus. How could that be? As far as I can see, this actually destroys the business nearby the campus.

No, they noted that the news of Boston area landlords and businesses losing billions due to these restrictions will probably be met with general applause less than an hour or two outside the city, thus bad news becomes good news, the urban / rural-ish divide.

Immigration restrictions in general would probably be applauded, but immigration restrictions that only directly affect colleges and cities? Slam dunk for Trump among his base.

Ah, that. Agree, less students means less business. Assuming foreign students permanently live near campus, it would even hurt more during Covid-related closures.

EDIT: I read OP that this policy ams to force campuses to open for fall. That would mean more students on site. Even without international ones, that is more than now.