The move begins with Chrome beta users on June 3, before a gradual phaseout of 'Manifest V2' extensions for all users in the coming months, which could impact uBlock Origin.
As long as that extension developer can be trusted to have access to read and modify the data of any site you load and to not sell the extension (and its userbase) for a quick buck (see Hover Zoom+ for an example of how much they're willing to offer, as recently as today).
There are definitely trade-offs between the permissions allowed in V2 versus V3. It really depends on where you think the main threat is (websites and online tracking versus extension developers).