When they go forward with this, ad and privacy blocking will stop working and people will be pissed off enough to switch to Firefox
Partly true. If I'm right there is already an UBo for V3 and it's capable to block ads, although not as efficiently. If nothing major change happened with V3 that may affect this earlier V3 UBo the adblocking will still work (but poorer).
Can anyone eli5?
When they go forward with this, ad and privacy blocking will stop working and people will be pissed off enough to switch to Firefox
Partly true. If I'm right there is already an UBo for V3 and it's capable to block ads, although not as efficiently. If nothing major change happened with V3 that may affect this earlier V3 UBo the adblocking will still work (but poorer).
https://www.eff.org/deeplinks/2021/12/chrome-users-beware-manifest-v3-deceitful-and-threatening