You're not wrong that it's still tracking. Though, whether it's tracking or not isn't really the thing up for debate here.
In my head it's:
A) Whether you have a reasonable expectation of privacy from a person or company when driving your car with a personally identifiable plate on a public street.
B) Is it your data that is being searched or is it the data of the company who owns the ALPR? Is it a violation of your rights for that data to be searched?
The decision in Carpenter is extremely narrow and doesn't cover things like cameras or non-targeted tower dumps.
It will be interesting to see how this turns out.
It's also similar to the ever growing network of toll road cameras and bridge/highway cameras that capture an image of each car + driver's face.