It's a fairly rugged coastline and as such it's very dangerous. Pieces of cliff-face routinely shear off. Apparently it used to be accessible through an arch from the Gibsons Steps side, but they filled in the arch because of the danger to the people and to the fairy penguin colony.
All these types of things will eventual crumble away. Didn't the granite face in a mountain in Vermont or New Hampsire break away a few years ago?
Even all those precious arches in Utah will turn to so much dust.
"Fundamentally I think we need to rediscover a non-ironic world"
What makes this a noteworthy news event, is that this particular strech of rocks - the 12 Apostles - really epitomizes the entire coast. At the location where this particular image was taken is a boardwalk that people line up every evening to take sunset shots of these rocks. With the one rock now missing - the most prominent rock - the scene becomes less spectular, and I read that some authorities in the area are concerned how this even will impact the tourist industry in the area. This particular spot is right in the middle of Port Campbell National Park. But, they said the same thing when "London Bridge" fell down a few years ago, and it seems to have increased its popularity. Time will tell.