Ros, they continued (and continue) to use the same methodology for data extraction for the index today as in its previous incarnation. Indeed tthe batch numbers of most entries I have checked are those from the IGI. I agree that they have removed the community submitted entries. They are an aid to finding an event but they are no substitute for register itself and they are certainly not a primary source.
Notwithstanding transcription errors, the amount of information extracted is limited.
2 examples from my own family (I could give several others even though I tend not to use it)
"England Births and Christenings, 1538-1975," database, FamilySearch(https://familysearch.org/ark:/61903/1:1:NVX9-D3T : 11 February 2018, Hannah Linnet, ); citing yr 1813-1957 p 4, index based upon data collected by the Genealogical Society of Utah, Salt Lake City; FHL microfilm 6,127,027.
Hannah Linnet baptised 1824, Clay Coton only she wasn't The marginal note makes clear that this is registering her previous baptism (or more accurately her public admission to the Church) "Privately bapt by chaplain of Northampton Goal Jan 1816"
Free Reg, having a place in their index for notes gets it right.
Most of us are aware that baptisms were not always that close to the birth. Nevertheless, there are some muddled family trees on ancestry stemming from this error.(which is daft because the image is available on ancestry)
How about this one?
"England Births and Christenings, 1538-1975," database, FamilySearch(https://familysearch.org/ark:/61903/1:1:J3WJ-C9Q : 11 February 2018, Joseph Cock, 22 Apr 1828); citing , index based upon data collected by the Genealogical Society of Utah, Salt Lake City; FHL microfilm 554,754.
If you search you will also find a Joseph Satchell, and an Esther Cock
Three children from 2 families baptised on the same day?
Fortunately Family Search has the images available for these baptisms It was an entry where the children's names were mixed up and then afterwards corrected by the clerk but both the correct and one of the crossed out entries has been indexed.
Just two children: Joseph Satchell and Esther Cock.