Confusion and Obfuscation instead of Innovation

Favorites is a Better term.

bookmark
NOUN
a strip of leather, card, or other material, used to mark one's place in a book.

that's it. the correct term in web browsers would be "web marks". but Microsoft decided to call them Favorites which is more suitable.

Also there is no rule or law saying Microsoft should obey Google and whatever they do.
Microsoft is a separate company, like Google, Mozilla etc.
the underlying engine being Chromium, EdgeHTML or even Gecko Does Not mean a thing in terms of UI.

Google likes to call it extensions, fine, let them do it. doesn't mean Microsoft should do the same.

if everything was the same, then why bother creating a new browser? might as well delete Edge insider project and everyone install google chrome.