AFAIK^^ interests on new profiles are set as "Friends Only" by defaults and that was one of the defaults on the previous privacy rollout for pre-existing users after the cry out.
All this does is change how the interests actually link (They used to be linked to a search field seeing who else had that text, Now they link to pre-formatted fan pages which still show who else like it but with descriptions from Wikipedia.)
Don't you love that you need a second FB account to check whether your privacy settings are actually in effect? It's indicative of how difficult it is to understand the privacy settings that are offered.
Part of the reason Facebook is able to get away with so much of this is that when you are logged into Facebook, it never occurs to you how much of your information is being shown to other people; it's like a crowd of people with funny stickynotes attached to their forehead, everybody sees and is entertained by what they can see on other people's foreheads but they can't easily tell what is on their own.
