I haven't used FB in 7 years but I wonder if FB will become a much better platform in Australia after the news ban, with just posts/photos from friends and less noise.
I wouldn't bet that banning news will reduce the noise. Instead I think it will create a vacuum for even worse noise to fill.
I follow ~60 people on FB, most of whom I know IRL. I'm pretty ruthless in unfollowing those that are noisy with memes or other junky stuff.
I'm also conservative with the groups and pages I subscribe to.
You have the controls to curate what goes into your Facebook feed. So the, "So much better," remarks feels like someone flailing around fecklessly when they actually have the power.
Anecdotally I've noticed very little change in my feed since the change here in the Antipodes.
Just look at Twitter.
So yea, it may actually make it better. FB considers "engagement" as all-important. But engagement occurs most frequently when someone sends out a controversial news article. It devalues the service and makes it a less enjoyable experience.