The laws might be bizarre or poorly thought-out but the concern isn't. A news landscape controlled by American tech companies doesn't sound like a rosy future.
Luckily we have two fairly good public broadcasters (ABC and SBS), but the Murdoch media hate them and the conservative party in power are white-anting them away (budget freezes and things all the time which after inflation effectively mean cuts every year), and the quality has dropped considerably over the last few years with editorial interference (technically they’re independent, but reporters there who break big stories of Government corruption, or showing big problems in Government policy just happen to be hounded out, even though the stories were true).