Apple’s “Find my Mac” / “Find my iPhone”, etc., uses a large, autonomous, P2P mesh network created through millions of iPhones and other Apple devices. So an Apple device can register its presence via other Apple devices nearby.
Now, Apple is opening this network up to developers. Final specs by year end, so it will be awhile before third party accessories come to market. Hard to say if this will be significant or not, but it will possibly put providers such as Tile out of business if they do not adapt and shift away from the P2P networks they have been trying to build out on their own.
I had some of the early Tiles when it first came to market, and never found them useful. I guess I don’t lose my keys. But Find My iPhone has been a saver on more than one occasion.