There are very few artists for which I want to be informed about their new releases, as such I have never used the 'follow' feature. Following the update, my artists list, which I used regularly, is now empty.
While I understand that the change is great for a portion of users, it feels like it hasn't been done while thinking of how to make the change with minimal effect on the users who were happy with the app as it was. This could have been implemented by just allowing the user to choose between all artists or just followed artists.
Users like myself would then be able to use the artists list as they always have, while the new feature would still be available for those who want to use it. New features should improve, not replace.
Updated on 2019-07-27
The Artist section should now contain artists you don't follow but you have songs from in your library!
You can also manage your notifications as explained here so you don't get notifications for each update from one of your followed Artists.
Hope it helps. Have a nice day!