This is the best summary I could come up with:

"Users will be directed to the Chrome Web Store, where they will be recommended Manifest V3 alternatives for their disabled extension.

The most salient of these is the blocking version of the webRequest API, which is used to intercept and alter network traffic prior to display.

Under Manifest V2, it's what extension developers use to stop adverts, trackers, and other content appearing on pages, and prevent certain scripts from running.

The new MV3 architecture reflects Google's avowed desire to make browser extensions more performant, private, and secure.

Li acknowledged the issue by noting the ways in which Google has been responsive, by adding support for user scripts, for offscreen documents that have access to the DOM API, and by increasing the number of rulesets in the declarativeNetRequest API (the replacement for webRequest) to 330,000 static rules and 30,000 dynamics ones.

And by the beginning of 2025, when the API changes have been available for some time in the Chrome Stable channel, Manifest V2 extensions will stop working.

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