Yep. They continue to be excellent pet trackers. “They’re not for use with pets, wink wink”, when if you set out to build a pet tracker from scratch, that’s what you’d hope to end up with.
They're great if you're in a populated area. If you're tracking pets in the country, you'll never see them, as there aren't any relay devices out in the woods.
Pet trackers in which situation though? The times I’ve wanted a tracker on my dog is when we’re out in the woods for a hike and I worry he bolts after an animal or similar. I can’t see how an AirTag would help in that scenario.