The possible downgrade is usually limited to downgrading SHA2 to SHA1 when using RSA keys for user authentication. We are currently not aware of any attacks that benefit from this.
server-sig-algs was only added for compatibility, so new clients wouldn't get kicked off old servers that don't accept rsa-sha2 pubkey auth packets. https://www.rfc-editor.org/rfc/rfc8308#page-7
AFAIK this downgrade is not possible for OpenSSH, as it refuses RSA/SHA1 signatures by default at both the client and server. Moreover, deleting the EXT_INFO message would only remove the _advertisement_ that these messages are accepted and would change the fact of whether they are.
It might be possible to use this attack to trick an old client to making a RSA/SHA1 signature where it might mormally have made an RSA/SHA2 one, but I can't see any security impact from this as the signed data is still bound to the connection instance and it wouldn't change whether the peer would accept it anyway.
I'm interpreting the likelihood of encountering this near term seems very low, and the impact is high enough where an APT group uses it as part of their pivot and persistence strategy, but it's mitigated by the fact that it doesn't compromise a clients private key. There may be some future implementation of this attack that enables automated ssh session hijacking as a result of a key downgrade and an additional cryptographic weakness in that chosen weaker cipher. It implies the network IoCs would be for a bunch of NOP ssh packets and failed ssh session setups.
Interested in disagreement.