It was created so that well-behaved adtech companies could target based on FLOC alone, without having to resort to fingerprinting. Just as before, less-reputable adtech will continue to fingerprint to try to advertise to people with third party cookies turned off. As chrome continues to implement fingerprint resistance technologies, these techniques will continue to be less useful for people trying to advertise not based on FLOC alone.

Basically, it’s a way for google to implement fingerprint resistance in chrome and default to blocking third party cookies without killing their own funding source.