It does the same basic content blocking with no permissions required. Then you can opt-in sites for it to do more blocking, including I believe opt-ing in all sites for what appears to be the same blocking as regular uBlock Origin.
Positive side: faster, fewer permissions by default, more control over permissions.
Negatives: less blocked by default, requires opt-in for more blocking.
Another negative is it can only update the filter rules with an extension update (which Google controls the speed of). As far as I know, it hasn't been a problem yet but the fact that YouTube ad blocking started requiring frequent filter list updates suggests Google will likely take advantage of this.
It does the same basic content blocking with no permissions required. Then you can opt-in sites for it to do more blocking, including I believe opt-ing in all sites for what appears to be the same blocking as regular uBlock Origin.
Positive side: faster, fewer permissions by default, more control over permissions.
Negatives: less blocked by default, requires opt-in for more blocking.