As an Australian experiencing this first hand and considerably older than 16, absolutely nothing has changed. It seems like all the social networks are doing age estimation of accounts and only taking action on those that fail and are detected as underage. The change is otherwise completely invisible if you're an adult user. Obviously I'm only a sample size of 1, but I've not heard of any other adults being adversely…
There's a long way still to go on this. It's one of those changes where positive effects are experienced early but many if not most of the negative effects will surface over weeks, months or years.