Holding down the spacebar to move the cursor around feels unnatural compared to being able to move the cursor about with the magnifying glass on the actual text itself.
Locating the cursor on the piece of text to edit using the spacebar is not as easy now since the view is no longer magnified despite the cursor size being increased. It's still not as easy.
The spacebar is one of the keys furthest away from the text so again feels like you are removed from the text editing process even more.
Sometimes in the act of holding the space bar another space is added to the text meaning I have to then remove this.
Trying to place the cursor on the section of a word to edit usually highlights the word instead and the suggestions rarely match what the edit required is.
Trying to place the cursor on the correct section of text is usually unsuccessful as fingers are far larger than text.
For these reasons this change is now making me at least an order of magnitude less productive when messaging.