Can we opt no thanks to new formatting and emoticons forum wide?

Today, a much bigger list of formatting options has appeared above the text boxes in which we type.
I liked the simplicity we had, I don't see the need. We are having discussions, not presenting reports for one another. It seems awkward on a 7" screen, can't imagine it working well on mobiles.

I also wonder if that's why images have been broken a bit in threads recently.

Can we opt no or is it a Vanilla wide mandatory update we have to keep?