same logic

That's the point, it isn't. The good old version was built on logic where the browser would send the downloaded webpage to the extension, and uBO could weed out ads and trackers, and give you the sanitized version. uBOL works completely differently, as it has to ask the browser to clean it out, but the browser will ultimately decide what to actually do, and there are already limitations that impact ad blocking, as the browser won't accept enough changes to block all the different kinds of shit that comes through.

The other big difference in logic is distribution, uBO relies on outside blocklists to keep up with Google changing Youtube several times a day to keep sending you malware, in the new system, this is not allowed, so it's on Google to approve a new blocklist as fast as they do their changes - they won't.

It's going to be less capable, it's going to be exactly as capable as Google wants. It might as well be named the Google Ad Blocker if only that didn't discount the insane work the uBO team does to keep up with Google's shit.