we recognize this transition requires significant work by many participants and will have an impact on publishers, advertisers, and everyone involved in online advertising.
Translation: Google's main income sources didn't hop on the train fast enough, and Google is not going to commit financial suicide just to please its usersproducts.
It was never about privacy, they just wanted to monopolize the tracking market by making it so only the company that owns the browser you're running can track you. They called it FLoC at one point, but I think they rebranded it a few times since.