[catlifeonmars]

> feels like a charity towards advertisers.

This. FLoC has no value proposition for end users.

Your position regarding cookies lumps two categories of cookies together. Cross-site cookies, and same-site cookies. Tracking isn’t exclusive to cross-site cookies, but the effectiveness (and invasiveness) of tracking is orders of magnitude more effective with cross site cookies. With the near-elimination of cross-site cookies, it turns out you can have your useful client side state and eat it too.