They have ruined the Google news approval process completely. As per the new algo, every site is eligible to show up in News section without getting approval from Google. That may sound like a good thing, but it’s not.
Google algorithm decides which site should rank and which ones shouldn’t.
AFAIK, you can still apply for Google News and get approved, but you’ll not rank or even show up for your site name unless you use site:yourdomain.com command in SERP. Their algorithm will decide whether you should rank or not, and in most cases, you’ll not unless you get cited by other Google news approved sites or you are an authority in news segment.
The sites which were previously approved will continue to rank normally and they are not dependent on this new algo.
You don’t need Google News to show up in Discover or Chrome suggestions. What you need is AMP and luck, and that should help.