It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.
There's also the positive side to it. As it's gotten some level of recognition that we need. Remember that it would be hard for Bitcoin to be regarded as a currency as it would compete with the various national currencies of different countries, and this is what their exact fight with Bitcoin and crypto in general. Now that's it's even valued as a commodity, that's something you know..baby steps. Soon they'll realize it's got more than that.