As far as I can tell, and I checked just a few days ago, this latest round of updates didn’t apply to my ATV3, so you may not have to worry about that. I haven’t tried sharing, but streaming Music to my ATV 3 using Big Sur works just as well as it always has.
I think that’s a great idea! Make Facebook create a service that people want to pay for, rather than pretending it’s “free” while abusing their personal information and manipulating their behavior. 
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I have noticed that my iphone 12 battery life has been drastically affected by the latest update. Anyone else notice that?
My iPhone 8+, which recently had its battery replaced, is now affected by the update as well.
Nothing after the update. But then yesterday I noticed my 12 mini was really warm and sure enough battery was really low. Battery pane was rather useless as it showed the battery drain but not what app/process was actually causing it. Force rebooted the iPhone and it’s been fine since. Knock on wood.