Not sure why you suggested I read MSA National Standard 1 since it has nothing to do with establishing the quota.  But let's take a look at it anyway.

 600.310 National Standard 1—Optimum
Yield.
(a) Standard 1. Conservation and management measures shall prevent overfishing while achieving, on a continuing basis, the OY from each fishery
for the U.S. fishing industry.
(b) General. The determination of OY is a decisional mechanism for resolving
the Magnuson-Stevens Act’s multiple purposes and policies, implementing an
FMP’s objectives, and balancing thevarious interests that comprise the national welfare. OY is based on MSY, or on MSY as it may be reduced under
paragraph (f)(3) of this section. The most important limitation on the specification of OY is that the choice of OY and the conservation and management measures proposed to achieve it must prevent overfishing.

The rest of that section goes on and on about MSY and OY, but we can see that MSA has not prevented overfishing.