Let's talk about all the things you wrote which are wrong...
"Lawsuit has not merit."
Lawsuit is two-pronged. As the article states, the complaint about affirmatively misleading the public is tenuous. "But when it comes to stalking itself..." Yes, that's more on point.
"...substantially LESS effective at stalking than any of the nameless Bluetooth and GPS trackers out there"
All of which have a direct connection to a mobile service as opposed to relaying through near field contact. Because of this, the battery life on those devices is much less and/or they are bulkier. Maybe a couple weeks. AirTags can work for up to around a year on the same battery. You can potentially stalk someone for a year and collect detailed data on their movements without them knowing or you having to retrieve the device.