Yeah, this is really nasty.
Here’s an excerpt from their github page, (github.com/wicg/floc): “It would be better for privacy if interest-based advertising could be accomplished without needing to collect a particular individual’s browsing history. We plan to explore ways in which a browser can group together people with similar browsing habits, […]”.
This is literal doublespeak; they saw they are trying to achieve one thing, in this case to not pry into people’s browsing histories, and then say that they are going to do the exact opposite, by implementing something that is absolutely dependent on analyzing people’s browsing histories. Pretty wild.
I often use a fork of chromium called Brave, which is pretty decent, and there’s a great fork of firefox called ‘LibreWolf’ which I’m using now. Hopefully google won’t mess up the open-source part of Chrome, and Brave will still be a viable browser.
To offer my opinion on the question you asked, I’ll say that your best bet with this is to boycott google, and use an open-source browser that you know for a fact does not have this ‘Federated Learning of Cohorts’ spyware implemented. In this regard, google is much like a particularly undisciplined toddler, who by never receiving any meaningful consequences for their misbehavior has been taught they can do whatever they want. The difference in the toddler though, is that they can be given the benefit of the doubt. The toddler does not yet have the capacity to truly understand the impact of their actions. Google is sociopathic.