The other issue...
See, this is making it sound like the issue is the removal of cookie support. But, Google's plan is to remove cookie support, while touting their replacement system. I will leave this as an exercise to the reader to imagine why this could run afoul of regulators both on the basis of privacy issues and it being anti-competitive.
"Chrome notes your topics of interest based on the sites you browse and how often you visit them. Sites can also store info with Chrome about your interests. As you keep browsing, Chrome may be asked to share stored info about ad topics or site-suggested ads to help give you a more personalized ad experience. To measure the performance of ads, limited types of data can be shared among sites and apps."
I don't turn off my cookies or anything. But I will note, this effectively replaces a system with a little transparency (you can see cookies in a cookie editor, block them per-site, delete per-site cookies and block sites from storing them individually if you wish.) That system with some transparency is replaced with a system with none (you have these on/off switches for ad data collection; there's an area in the privacy settings listing what topics you've been clocked in for, and a box to block ones; but apparently only once once is already on the list, since there's no list of topics to see what topics it CAN decide on. Don't know what the categories are, how the browser decides on them, or how that information is handed over to advertisers or site owners or whoever. And in Chrome, the only control is to turn it on, turn it off, and clear your browser history if you want to clear it.)