No, I don't think this article has anything really to do with a better privacy outcome and everything to do with watering down Google's stance to something more status quo for the advertising industry.
There are no actual critiques of Privacy Sandbox's APIs here. There's no mention of what critics stand to lose if Privacy Sandbox becomes the standard. There's merely hand wringing of "but do you trust Google?" Everyone who's made themselves available for quoting in this article is a web advertising professional, including the ones who come off as not[1][2]. None of them care about you.
[1] James Rosewell is cited as director of "Marketers for an Open Web." He's also the CEO of a company that specializes in device detection. His LinkedIn headline reads "THE Fastest and Most Accurate Device Detection = more profitable websites"
[2] Alan Chapell is sarcastic about Google attempting to do this openly through the w3c. He's cited as running a privacy law firm. Their web site says they represent tech companies navigating privacy issues. They aren't actual privacy advocates. https://chapellassociates.com/