In practice, what that means is you get a strong temptation to hang behaviour on data even when it doesn't fit perfectly. Because of the natural desire to reduce the number of entity definitions, you end up defining a typeclass on a data type that doesn't fit exactly just to get the behaviour to the right place without having to introduce a new policy or something.
Effects change this by essentially letting you provide multiple names implementations for the same data type, and you don't need to pass around a policy type because the polymorphism lets you tie handlers to scope.
So, if the fancy type-safe library-based control flow doesn't really do much for you, I think that their potential for code design is a good reason to still be excited!