Source: https://privacysandbox.com/news/update-on-plans-for-privacy-...

May I remind that the real bad news is that Chrome will keep third party cookies around, used primarily for cross-site tracking. The deceivingly named 'Privacy Sandbox' was only marginally better than alternative tracking methods like third party cookies and browser fingerprinting. While it provided some level of anonymity to the users compared to the latter two, it has been argued that tracking individual users is still possible with its hotly contested components like FLoC. This is important because Firefox's and Safari's solution was to not provide any alternatives at all. That's still an option for Chrome, but one that they're not going to take at all, as evidenced by their blog post.

They don't consider the users' interests at all in this matter. And I find the framing of the loss of Privacy Sandbox as some sort of disaster to be deceptive and troubling. "Too bad PS is gone, because now you'll have to deal with 3rd party cookies" doesn't make a good case for PS.