According to Apple, users will have complete control over who is able to track their activity and data. Of course, that doesn't guarantee we'll always have full use of an app before consenting to data collection, but it does provide a significantly better sense of security.
Twitter CEO Ned Segal voiced his approval for the coming update as well yesterday at the Morgan Stanley Technology, Media & Telecom Conference, claiming it will provide a more even playing field between social media companies. Segal acknowledged Twitter has not been as streamlined in leveraging its use of users' data as other platforms (e.g. Facebook and Instagram), putting it at a disadvantage. However, this update will put all media companies back at the same starting point, requiring user permission to begin collecting data which most have been freely gathering left and right until now.
Segal promises that Twitter will not begin asking users for access to their devices right away, a restraint which other companies are unlikely to show. Instead, he plans to scope out and "learn from the industry and the broader ecosystem" before making such a move.