This is the best summary I could come up with:

The change is being made as Google prepares to settle a class-action lawsuit that accuses the firm of privacy violations related to Chrome’s Incognito mode.

This won’t change how data is collected by websites you visit and the services they use, including Google."

The stable and Canary warnings both say that your browsing activity might still be visible to “websites you visit,” “your employer or school,” or “your Internet service provider.”

We asked Google when the warning will be added to Chrome’s stable channel and whether the change is mandated by or related to the pending settlement of the privacy class-action suit.

Incognito mode in Chrome will continue to give people the choice to browse the Internet without their activity being saved to their browser or device."

On December 26, 2023, Google and the plaintiffs announced that they reached a settlement that they planned to present to the court for approval within 60 days.

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