To clarify, yes, the My Albums button is gone, as well as everything else that was on the right side. You will be unable to create *new* folders. The same thing is happening on both my side and Lilwyn's account (fairly sure everyone would be like this), and I already mentioned this issue in Mod Chat a few days ago after I was uploading stuff. KC is probably too busy at the moment to work on this.
But everything else is the same. I guess this current state would be considered "regular member" view, when all of us used to have a wider breadth of moderation access. From the window you screenshotted, click on a title. In that folder, click "Add an item to this album." That's... all you need to do for image uploads. It's no different than how I always did it. XD The Home page link that used to also be on the right side can be accessed by pressing the Media button on the left side.