“older” - privacy respecting
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).
You can support V3 without limiting the number of filters! The limit is arbitrarily chosen to block fewer ads