There’s tracking, and there’s tracking. Apple gives you tools to avoid having your web searches, sites you visit, purchases, etc recorded in monster databases that are available to anyone who wants to view them. If you are fine with this that’s great. I’m not. That’s why I don’t use Google search and I have enabled Limit Ad Tracking (and it’s more advanced equivalent in iOS 14). I know that my location can be tracked (approximately) by my carrier; I have no choice there, because it’s required by law. It also is quite imprecise, and, with recent agreements from carriers, that information is not publicly available, only for law enforcement and E911 services. But with Wi-Fi tracking my precise location is recorded every time I get near any Wi-Fi network, unless my phone sends false Wi-Fi IDs, which is what this feature does (when it is on, which it is by default).
How many Wi-Fi networks do you connect to that make it so burdensome to turn off private addresses for those networks? You do realize that iOS has sent bogus Wi-Fi addresses to all networks that you are NOT connected to when you are near them for the past 3 years.