Earlier quoted context omitted.
Can you elaborate on what you find bizarre about it?
The law is not bizarre in essence (there are details that are bizarre though): You are free to ask money for your content. On the other hand, Facebook is free to not buy your it.
On top of all this, the definition of "core news" in the bill is ridiculously broad.
It's completely untenable, and IMO Facebook would surely (and predictably) have to leave the Australian market under those conditions.