You’re completely correct. Chromium includes the badly named “Privacy Sandbox”, and much more proprietary Google stuff. It’s a bit of a chore for independent developers to strip out the Google code from Chromium.

Chrome itself is built atop Chromium and throws in even more closed-source stuff.

I hope regulators start paying attention to Google, but Chrome has been the dominant web browser for a while now and Google has basically had free play with web standards up until this point, so I’m not holding my breath.