I also completely despise this misfeature. There’s a multitude of things very wrong with it.
It should be opt in (both sending and receiving), but it’s (in a very clumsy way) opt out, and very, very difficult to figure out how.
It is, AFAICT, impossible to create a new contact with the old style contact photo or even update the old style contact photo in an existing contact. There was nothing wrong with the old contact photo setup, it was optional and you didn’t have to accept contact photos from other people if you didn’t want to. So I’m currently stuck with a contact photo that I don’t want and had planned to update as soon as I had a photo on my phone that I liked, but now I can’t change my (old style) contact photo without creating one of these abominable poster things.
This whole thing is a mess of badly designed UI. I cannot believe Apple created this nonsense. It is obnoxious and visually unappealing to me how the poster takes up the whole screen. It’s also not at all business-friendly. It has a very unprofessional look, and it’s also a bit of a security issue in a business setting… or any setting where you don’t want everyone able to see who is calling you.
There needs to be fine grained settings for this stuff. Posters are fine for people who want them, but for everyone else they are simply terrible.