The new law doesn’t stop us from moving to Italy and establishing citizenship like anyone else. It only changes the law that gives people of Italian ancestry a faster, more affordable pathway to citizenship.
Under the old law, anyone who could trace their bloodline to an Italian ancestor as far back as 1861 (with some restrictions - for example, on female ancestors) could declare Italian citizenship for a low cost and some paperwork. Unfortunately, so many people have applied in recent years that the courts became backlogged. Most of those people do not move to Italy. But, because of the backlog, people with Italian ancestry are not being fast-tracked.
So, to cut down on the backlog, Italy is limiting the “bloodline” to two generations. If you had an Italian parent or grandparent, you can still file for citizenship by bloodline (again, with some restrictions). I was disappointed by the change in the law, too, but I understand the reasoning. Some people abused the system and ruined it for everyone else.