Thanks, @davidb can you please remove this option?
We did it this way because it optimises for our hosted customers’ setups, where we are manually going in and uninstalling the old gif component for them. We didn’t anticipate that people would want to keep using Giphy, since their pricing was announced to be so high, which is the reason we added Klipy to the theme component in the first place.
Next time we can add a bit more info to OP for self-hosters who want to keep using the old component, we just assumed here self-hosters would move to Klipy too:
We will definitely think of a way to make this less confusing and surprising, I’ve asked David B to open up an internal topic and I will work on it sometime in the near future.