From my perspective, the biggest improvement in their proposal would have been the increased privacy and security users would receive with adblockers that use the proposed scheme.
Under the current scheme, any Chrome adblocker can see all of the pages that users browse; a potentially huge privacy hole.
At least with the proposed scheme, adblocker extensions wouldn't have had access to a user's browsing history. This is the same approach that Safari uses with its content blocker API.
Yes, the Safari approach has more limitations, but it is also significantly better from a privacy perspective.