This makes my notification badges scream for my attention much less. The whole phone feels calmer and less distracting. I have actually been doing this for over a year, and it’s been life-changing.
Another benefit is that due to the increased contrast of black and white, I can run my brightness way lower; this is excellent for battery life. Screenshots still show up in color.
I have an Accessibility Shortcut mapped to my side button to turn this on and off. If I want to look at a photo or something, I toggle it by triple-clicking my side button. It’s seamless and it stays out of my way.
For anyone who wants to try this: Go to Settings -> Accessibility -> Display & Text Size -> Color Filters. Flip the switch to enable and select “Grayscale”.
Then, go back up to Settings -> Accessibility -> Accessibility Shortcut and select “Color Filters”.