It appears this only breaks part of the connection. I removed all Chrome data, created a new profile, activated that flag, signed into YouTube.
While I'm not signed into the browser, it has lifted my Google Account profile image into the browser, so it's still doing some sort of "consistency". It's clear the browser still knows my Google Account.
Image: https://imgur.com/hrEwPqX.png (Note, I confirmed that the about:flag "Identity consistency..." is set to Disabled before/after this screenshot again.)
I continue to be thrilled that I moved back to Firefox around Quantum.
While I'm not signed into the browser, it has lifted my Google Account profile image into the browser, so it's still doing some sort of "consistency". It's clear the browser still knows my Google Account.
Image: https://imgur.com/hrEwPqX.png (Note, I confirmed that the about:flag "Identity consistency..." is set to Disabled before/after this screenshot again.)
I continue to be thrilled that I moved back to Firefox around Quantum.