From the horse's mouth, "privacy sandbox" is explicitly designed "to build thriving digital businesses."
https://privacysandbox.com/intl/en_us/
At face value they claim it's designed to eliminate tracking techniques like fingerprinting, it's actually a system explicitly designed to collect the users' private information. From the horse's mouth.
"To provide this free resource without relying on intrusive tracking, publishers and developers need privacy-preserving alternatives for their key business needs, including serving relevant content and ads."