I'd agree it's good news to the extent that it keeps China out of LatAm (for now). My issue with Argentina getting the F-16 isn't really about Argentina (or the Falklands, for that matter), but I think the West's energies should be totally focused on supporting Ukraine. The F-16 has been selected as the (initial) platform to equip them, and we have no idea how many they will need before this war is over.
Personally, if I was the UK government I wouldn't have vetoed the FA-50s Argentina wanted, and then we wouldn't now be in the position of diverting precious F-16s.