The announcement suggests worse, like the ignition rotating to the point where it would lock up the steering. That would be a scream. And they say in the meantime, use the ignition key by itself.
My steering didn't locked up, but it sure was hard to steer. I could only turn the wheel a little bit.
I'm not saying that GM is to blame for my 1989 ignition system failing while I was driving down the road, but that is what happened, exactly like it's been described in the news. The engine cuts out, and you lose the power steering and brakes. I was lucky that there weren't any cars around me and that I could coast into a side street where I could safely wait for AAA.
I had to have the ignition system replaced. I wouldn't expect GM to pay for it, given the age of the car, but it is interesting.
There's a Goodyear service center about a mile from my house, where I had the repairs done. When I was walking up there to pick up the car, a couple of cop cars pulled up and stopped me as a burglary suspect.
They didn't arrest me when they saw I was an old white man. (I had on a ski parka with the hood up when they lugged me.)