Nice tech blog, really love it.
From my understanding, basically this new iteration is better then their previous generation chrony based one because the uncertainty in the One Way Delay calculation is largely removed by having those Transparent Clocks capable of reporting their queuing delays. Basically the asymmetry of the delays are gone?
Personally, I don't think Chrony should be considered as a NTP implementation as clearly it can utilize those PTP hardware timestamps as well and those hardware timestamps are the "secret sauce" of PTP's high accuracy. With those PTP enabled switches, together with the fact that Chrony can already send NTP packages as PTP packages, surely Chrony can leverage such new capabilities as well with some reasonable updates.