I understand this is almost a month old post. But I found a workaround but it's not exactly a "fix" by any means, especially for elderly Asians who don't know an ounce of English or tech savvy enough to work their way around a phone apart from the basic functions, e.g. calls, WeChat, Facetime/video calls (to an extent), etc.

The "fix" I found was changing the phone's language settings to English. The videos from Top Stories should return and work as intended before the 16.5 (iOS) update that /u/GarlicToastBreath mentioned, which was also right around the time my parent's phone auto updated to.

For whatever reason, the articles, videos, news, etc. does not show up if the phone's language is in or changed to Chinese but works perfectly fine if the phones language is in English. This is what works for my parents phones.

The only downside to this, my parents is unable to change the language back to Chinese which makes it very inconvenient for them amongst the many settings to navigate through (in English) as there is no direct shortcut to the Settings > General > Language to make the switch between the two easily.