I completely agree with you. I got pushed back because google resurrected spammy sites and I went down the chain. I am going to keep an eye for more fluctuations but this is just WOW. The odd part is that only my homepage got it, all other pages are fine. I am going to start cutting text from the homepage and see if it helps.
Semrush showed that the ranking sites in my niche have on average 800 words and I have 1.6k. I dont want to start doing it until this update is over. Google should have the decency to make an exception and provide more details on what was changed exactly.
UPDATE! My ranking keeps fluctuating, this means the update is not over guys. After being in page 3, then to page 31, then page 10 I am now on page 4. Looks like they are trying to fix the mess they created.
[edited by: yollo03 at 8:33 am (utc) on Aug 2, 2018]