Google's sales pitch for Manifest V3 is that, by limiting extensions, the browser can be lighter on resources, and Google can protect your privacy from extension developers.
Emphases mine. Funny, I use extensions to protect my privacy from Google.
Chromium needs to be fully divested from Google. End of story. There's too much conflict of interest in letting the world's largest advertising company have this much control over one of the two major browsers. If you don't see the problem with that, imagine if Taco Bell was also the world's largest producer of anti-diarrhea medicine.