Either they realize third party cookies are on a (regulated) dead end. Or they realize there is a bigger moat. Or something else that helps them.

But in any case, seeing the current Google, this is not something benefitting their users(products?) primarily. Unless some benefits accidentally aligned.

So, pushing back towards the broken status quo may be the right thing, if you know, or believe, how Google is going to benefit from the new FLoC.

I cannot evaluate that. But Googles track record does not offer me confidence their new tech is going to help me overcome the issues I have with the status quo.