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It would benefit the child
It would reduce medical costs in the long run
It would likely end up that a single perfect child template would be chosen every single time, due to its flawless nature.
This would result in all children not being unique.
If that child is perfect surely all children should be like it as perfection means it cannot be improved upon.
That's assuming everyone will have access to gene manipulation. If the monetary cost is too high, it will create a gap between rich and poor in terms of intelligence, health, attractiveness etc. on top of the wealth gap.