There are a couple of reasons they could be making this change highlighted in these threads.
And no, users do not need to care the slightest whether they go to the first, second or 3rd URL. What they care about is that they are entering their sensitive information on mybank.com's domain and not a russian counterpart, that's it.
The onus to protect against a website takeover is on the domain/server owner, certainly not on the browser vendor although they try to mitigate simple attack vectors.
edit: added a few 9s
They already used colors to de-emphasize other components, this doesn't look like anything else than pushing people to rely more on google search.
Refraining from collecting malicious links happens before you click, by the time it's in the URL bar it's already pretty late to mitigate against attacks.
Users with the level of paranoia that puts Google in the "untrusted site" space should be sidestepping this whole conversation by avoiding using the browser Google develops regardless of what Google does to its URL bar.
The whole idea of AMP pages is sketchy by default, as it's Google taking content from websites run by news media outlets and hosting it on their own servers so they have even more control over user-tracking.
In the long term, this has the potential to further centralize the Internet, something the Internet was never meant to be.
It's not that difficult to imagine a future where news media won't even host their own stuff anymore but instead outsource it all to Google.
Very comparable to how Facebook has become the de-facto place for small businesses, with little to no IT knowledge, to have their own little web-presence.
Which has certain advantages, but it's dangerous to belittle the very real disadvantages that kind of centralization of content will have in the long term.
IMHO it's our duty as technical users to advocate for a more private, open and de-centralized web for everyone.... We should especially be doing it on behalf of the users who don't understand the long term implications of Google's (anti-) features.
'Just switch to another browser if you don't like it' is not a compelling argument.
Every tool in the toolbox to make the web better.
In that context, it's a bit cynical to belittle the problem as you are doing there when this has been a very real issue for several years. As by now Google, Facebook, and Amazon control the vast majority of web traffic and have been doing so for years already [0].
This isn't some hypothetical scenario, it's something that's already very real.
[0] https://staltz.com/the-web-began-dying-in-2014-heres-how.htm...