This is NOT ending AMP, and I don't know where anyone's getting that idea.
It will continue to rank by "page experience signals", and presumably AMP pages will continue to be the standard to beat.
In other words, if you can go ahead and replicate AMP's loading speed on your own (maybe self-hosted AMP?) then awesome.
I do hope sites do that, because sites loading instantly rather than taking 5 seconds is a huge win.
But in practice non-AMP news sites are still filled with bloat that makes them take 5 seconds to load.
AMP has massively increased the performance of many news publishers forced to switch to AMP. We'll see if publishers are now motivated to try to make their native sites equally fast. I'm not holding my breath, though. I assume they'll stick with AMP because they don't want to re-architect their sites, or don't have the technical bandwidth to do so.
But this way Google appears more neutral with "objective" page performance measures, rather than explicitly favoring any single standard.
EDIT: the URL and title have since been changed by mods to a Google blog post. The original article/submission I was referring to was: https://themarkup.org/google-the-giant/2020/11/19/as-antitru...