I suspect they did this because they decided to not get rid of third party cookies in Chrome, so all the smoke and mirrors called 'Privacy Sandbox' are not needed anymore.
Turning off third party Cookies in Chrome is still much easier than the convoluted misleading menu Privacy Sandbox was. Though I'll still recommend my peers to not use anything that doesn't support uBlock Origin.
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Green Broadcasting This is great news! Privacy Sandbox was neither private, nor a sandbox, despite its name. All these APIs would just promote sharing extra data with advertisers.