iCloud Private Relay clone, implemented worse (no cryptographic privacy to the first hop, as Private Relay does it, AFAICT). Apple always does it first, and possibly best.
Sure, Apple’s will be more private but the “third party” proxy will probably be cloudflare and fastly still so a lot of benefit to end user of not having as much of their traffic vacuumed up by unsavory public networks or cell carriers.
HTTPS will keep specifics about your browsing private but MAC address, list of IPs connected to, and request sizes probably reveals a lot more than people would expect.