If they don't derive much value from the content, then it shouldn't be terribly awful they have blocked the content. But I suspect that's not the truth. Not by a long shot.
In the link they said it’s only 4% of their content but on the radio this morning (national Australian station Triple J), they stated that it’s a big deal as “many people rely on Facebook as their source of news”.
It won't be bad for them. And I believe that's the case, otherwise they wouldn't have blocked it. As to their users and especially the media: we'll see.
