Initially, it was reported that WhatsApp users who did not agree to the new terms would lose access to their account. It has since come to light that that is not entirely true. Users who don't agree will still be able to access the app — they won't be able to do anything from it.
After the initial confusion and inevitable pushback, Facebook backed off for a while. However, it has since moved forward with the policy and will implement the changes starting May 15, provided legal challenges don't hold it up further.
Have these moves by Facebook and WhatsApp turned you off the messaging services and pushed you towards something like Telegram or Signal? Or have you already consented to the changes because WhatsApp is just too important to your daily routine?