Canvas has provided some clarification that confirms it should not impact Design Tools. They wrote:
We have been looking into what Canvas has posted. There are still a lot of questions of what this looks like as it is a little vague in the announcement. From the conversation thus far, I don’t think that this new policy will have any impact on the Design Tools as it appears to only apply to content uploaded by teachers and students, not that added at the account level. I will continue to follow the conversation as we wait for Canvas to clarify some of the questions that others in the community have already been asked to make sure.