This means, among other things, that uBlock Origin is about to be disabled in Chrome. Google will choose a different extension to recommend but it can not be as effective as #uBlock Origin.
Following #Google's example, may I instead recommend you switch to #Firefox.
Firefox will continue to support Manifest v2, and consequently uBlock Origin and other extensions that can not be implemented with Manifest v3.
I wrote this blog post to inform the people I know who aren't as tech savvy or otherwise don't put any thought into their choice of browser. Another goal is to help get enough awareness on the topic and make sure it fails.