Illyes referred to it multiple times as a data refresh, not an algorithmic change. So sites that have been suffering from this algorithm may see a recovery in the near future. However, not all sites will see a recovery: Some may not recover, and new sites may also be hit by this data refresh.
When the data refresh is updated, we will make sure to notify you right here.
Illyes also explained that it is in Google’s best interest to keep this data fresh, so the they want to keep it updated as frequently as possible. But they do require manual updates and will currently not run by itself like some of their other algorithms.