I only see evidence that this replaces FLoC, but not cookies. Even Google’s statements about what cookies and data they collect hasn’t changed. This is a Chrome specific capability. Topics replaces Federated Learning of Cohorts which didn’t use cookies either.

Edit: nevermind. FLoC was a technology that allowed ad data to be collected even when third party cookies are disabled. Essentially it allowed chrome to collect data that Firefox and Safari already blocked when third party cookies are disabled.

So this isn’t replacing cookies at all, just FLoC. And it’s not replacing something “worse”. It’s still totally something that Chrome is collecting without cookies or any need to do so.