Vanilla ad blocking will continue to work because companies that participate in Acceptable Ads [1] will be happy to implement restricted ad blocking, such as Eyeo with Adblock Plus, while advanced and effective ad blocking that is not funded by advertising companies, like what uBlock Origin offers, will become impossible in Chrome.

Meanwhile a bunch of unrelated extensions will be killed, the ones that rely on modifying requests and which have nothing to do with ad blocking. Innovation around extensions that involves modifying requests will be halted, and everyone will suffer as a result, except Google.

Crooks will have continued and easy access to user data, since Manifest v3 is not focused on protecting user privacy.

I can bet on that.

[1] https://acceptableads.com/en/