Bad news and good news; an excerpt:
Even if the vaccines are less powerful against the [South Africa] variant, they still appear to protect people from the worst outcomes, like hospitalization or death. But the loss in efficacy against the B.1.351 [South African] variant in clinical trials suggested to some experts that the immunity the shots confer may not last as long against that form of the coronavirus. Or that the vaccines won’t be as powerful of a drag on transmission, the way scientists hope the shots will be for other versions of the virus.