We continue to advise against all but essential travel to Cairo (all four governorates, including Giza), Alexandria, and Suez. However, we no longer advise against all but-essential travel to Luxor.
I think a number of us think that the warning against all but essential travel to Luxor was probably an over-reaction in the first place, so it is good that it has now been lifted and the different security situation in Upper Egypt has been recognised.
I think that means that any holidays already booked for Luxor only, or for Nile cruises, will go ahead so tourists should start to return to Luxor soon, but check with tour operators. I guess that two-centres will Cairo will continue to be affected. I am not sure what tour companies will do but I suspect they may try to persuade Cairo + cruise to do Luxor + cruise instead? We shall have to wait and see. I am also not sure what other countries are saying now.
Hopefully though, tourists will return to Luxor soon. Right now the biggest destabilising influence isn't the political situation but lack of tourists and the income they bring. The people of Luxor have also worked hard to protect their monuments during the crisis, and hopefully this will be rewarded by an early return of tourists.