Ok, this seems like it should be about as controversial as a supermarket that plays downbeat music and tests to see if sales decrease.
That's not to say that the study was manipulative, involuntary, and barely consented to, but hey, that's Facebook in a nutshell.
The tone of this article is "these studies happened with no oversight!" but it never suggests who would oversee Facebook, except Facebook, which doesn't really seem like oversight at all.