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.
Your fear of news about bitcoin being a commodity is too much. cryptocurrency actually requires other functional values, not just limited to trading tools that are easily manipulated by a group of whales. This stage actually bodes well for the cryptocurrency industry, as the tax costs that will be charged are reasonable and part of the control over the use of existing digital currencies. as free as any crypto industry, we still have to collaborate with the government