But I'm absolutely not fine with the wording. When confronted with the phrase "Google says it may have found a privacy-friendly substitute to cookies", I'd wager most people would think "this improves my privacy in a general way".
It doesn't. What it actually means is: Google will make it more difficult for others to track you, but Google will remain committed to tracking everything about you that it possibly can. Except silently, and without your ability to opt out using ad blockers etc.
Net result: even less control over your privacy, and Google further entrenches its monopoly to boot.
That's not an improvement in privacy.