I don't like this change:

I don't think it's an improvement; it just makes things harder for editors.
First, the descriptions of these values appear when you hover over them, so having the same text twice is unnecessary.
Second, because the descriptions are so long, they don't fit on the screen, so to select the "private" value, I have to scroll, which is annoying because this wasn't the case before.
Third, this isn't a practice used in other fields in the editor.

I request that the previous version be restored.