So the floc is supposed to change one week over the next, but it most likely will remain correlated to previous values. It will provide something like 10-15 bits of entropy. You then have the geolocation from your IP provider, another good 10-15 bits. And then of course you have the browser fingerprinting, even my Brave leaks 18 bits.
It seems trivial to write a machine learning model that can correlate slowly drifting flocs with the other information. And this is especially true if one already knows the sites that the old floc has been visiting, for example via Analytics data, so you can predict the direction of the floc drift and uniquely identify the majority of web users.
Essentially, Google is not proposing limiting tracking, it proposes raising the entry bar into tracking so that a centrally placed company that can correlate all this data has a massive advantage. I wonder why.
And for the punchline, they call it... democratization!