Having tried such Bluetooth trackers a few years ago (don't want to get into the brand name), the experience was terrible, with connections to the phone dropping (or not pairing), the sound from the tag not being audible enough even from a short distance, and lastly, the usage of Bluetooth to just pinpoint the vicinity (not the exact location, which the UWB technology in the new iPhones and this tag is supposedly good at).

Apple can surely bring in an "it just works" kind of integration to solve some (or all?) of these pain points (like it has done with Bluetooth for AirPods), but I wonder what the pricing will be. Tile seems to be selling some of its products for about USD 12.5 per piece when bought as a pack of four. It also sells some of its products for a much higher price. If Apple sells each tag at $9.99, this would be a killer product. But it'd certainly be priced a lot higher, considering Apple's profit margins and the kind of technology in it. I'm sure it would have Bluetooth as an addition to UWB, so that it can be compatible with more iOS devices than just the iPhones 11.

If this also has a replaceable battery, which is something Apple tends to be moving away from (even the Magic Trackpad 2 from a few years ago switched to proprietary lithium batteries from the previous release that had replaceable batteries), it'd be great. This device would be a very low power device, and commonly used smaller batteries should be able to power them for a very long time. If it has a rechargeable battery, I'd bet that it'd have inductive charging like Apple Watch and iPhone.