Facebook’s threat to block real journalism from its properties is simply an attempt to bully the Australian government and legislature. It is also a clear attempted exercise of their massive, anticompetitive market power. I suspect the Australian authorities won’t be easily intimidated.
And without quality news and information, all of Facebook’s problems with misinformation would just become much worse. They would be taking away the only real balance for all the crazy rumors and conspiracy theories that they deliver.
They should, instead, embrace quality journalism as an answer for many of their issues and offer Australian publishers better and more economically sustainable ways to deliver it to the public.