It doesn’t prevent web pages from being modified like some people are saying.

In itself it does not, yes. What it will do is tell the server if the user runs a “non-approved” system configuration. That could mean anything from using addons that were installed from outside of the chrome addon store, through running a custom chromium build, to running an unapproved operating system or an approved operating system but unapproved state (driver signature enforcement disabled, TPM not present or says the system is “not trusted”).

Just like on Android with SafetyNet for the past few years. If you rooted your phone (perhaps to remove datamining bloatware from facebook and such) or straight out installed an alternative android system that respects you, then your phone is “not trusted” anymore, and a couple of apps wont work now.
We know it exactly how it will work, and with this it wont stop at the smartphone, it will spread to affect any kind of PCs too.

This will have nothing to do with the security of users. This is solely about the security of web service providers, that you won’t even try to filter the content that they want to push to your device when visiting their website.

This has no place outside of the strictest of corporate environments, at all.

NOT detect ad blockers

Sure, except that by this the server will know it exactly if your browser even allows effective adblockers (firefox) or not (chrome), and may as well decide to refuse to work if there is a possibility that the user has an ad blocker.
No, as you have written later, just using a non-chrome web browser will not be a solution, just as using banking apps and others is not possible on alternative android systems like LineageOS or GrapheneOS, not because actual incompatibility, but because of the device not being “trusted” (by google, as they run the verification system over there too).