It doesn't protect from fingerprinting your machine using WebGL (whose main purpose is to extract data about video card), canvas (main purpose of canvas is to check what fonts you have and how they are rendered), screen size, OS and IP address and TTL of IP packets.
Then you carelessly enter your non-temporary email address or phone number to get an order from a shop and the shop links your fingerprint to your offline identifiers. Now you cannot escape from tracking anymore.
Fingerprinting is real. For example, a site of government services for Moscow has fingerprinting code and users log into it with their real name.
You can use containers or private mode but your fingerprint stays the same and uniquely identifies you. Disable WebGL, canvas, accessing non-default fonts from browser, reading OS name and screen size right now and vote for disabling it by default if you don't want to be tracked.