Not convinced (yet)
On the subject of the Gov Links being blocked and FB pages being inaccessible, I recall at the time one or more of Facebook's own pages was inaccessible as part of the implemented change; happy to be proven wrong if / when the whistle blower reports become publicly accessible, but to me this still reeks of a botched change as opposed to a power flex.
As for the media code working... I would be curious as to which mastheads have been seeing the benefits of the media code, and perhaps more importantly how many of them are independent vs. being owned by Murdoch / 9-Fairfax. I know the independent rags I frequent for non-tech related news have made a point of calling out how the code has done nothing for them. Worth noting as regional and independent mastheads were meant to be (on paper at least) the main beneficiary's of the code.