iOS blocking is extremely limited and insufficient - it's purely declarative and non-dynamic, and with a hard limit on the actual number of filter rules you can have.
It is better than nothing but a world apart from a proper ad blocker and more or less insufficient for modern adtech.
The future of adblocking seems network based as it can't be bypassed by Google's intention.
It's easy to use when most OS can have default DNS over DoT/H that can also block non browser apps or even OS itself from connecting to tracking domains.
Chromium based browsers seem to ignore OS default DNS servers unless instructed to use the system default.
iOS DNS filtering ad blockers are nice because they work on most apps and have 0 overhead. Unless the app is running first party ad auctions I no longer see any ads on my phone. A true blocker for the browser would definitely be nice, but I'm pretty happy with the current solution.
It is better than nothing but a world apart from a proper ad blocker and more or less insufficient for modern adtech.