I guess the point is that it shows the correlation between processed food and cancer is statistically significant. As in there is definitely a link, and this meta analysis shows good evidence this link exists. Even if the impact is small.
As for the day to day impact of this study, I'm not sure there is one. Processed food is already on WHOs list of things that definitely cause cancer.
Getting a colorectal cancer probability in a lifetime is about 0.04, eating hotdog adds 8% to it or ~0.003.
Depending on the average amount of processed meats eaten, it could also show not eating a hot dog every day will reduce your risk of cancer by about that much. It's probably only important in the cumulative though. When we have studies like this for many foods, you could put together a diet that reduces your chance of cancer by 20 or 30%, say. But one food's impact like this is probably only important to scientists.
So getting back to your original question:
Like... is it written to excite anxiety?
Yes. Anxiety drives clicks which drives revenue.