After implementing this Google will have no competition in tracking Web users Seriously though Web may become for-logged-in-only walled garden. Popular Web sites are protected by reverse-proxy-like solutions such as CloudFlare and media content is put on CDNs. If CDNs and alike decide to filter-out direct traffic from ISPs then user would become essentially forced to use those Google-approved proxies!
I look at problems from different perspective than article. Article is more about short-term usability problems, breakage. I worry at long-term changes to the structure of the Web. Yes, I know that large parts of the Web are commercialized by Big Tech. From technically-administrative side there is not much stopping new companies, fundations etc to create new Web sites though. I see threat to that decentralized model by those Web-of-Google-approved-proxies model.