Fantastic, and somewhat scary - you do realize that this means that bluetooth is a perfect surveillance network
I bet Google will copy this, except without that whole encryption stuff... if they're not already doing it.
Imagine you have 1Bn devices world wide, and you can proximity track any other device from any device... thanks to chatty Bluetooth...
I will say - Find my iPhone has rescued my iPhone 8. My son was using it in school, then couldn't find it anymore. I saw it was at the school, locked it and played a sound - sound mostly because I thought maybe he has it in his backpack and just didn't see it, kids do that.
However, that wasn't the case. The phone was not with him. So I drove to the school, and was searching around the area, and couldn't find it. Going back and forth with the map, playing the sound, looking every conceivable place, nothing.
Then, I heard a very faint repeating sound (I didn't know how the find my iphone alert even sounds like).
Went to the source and found... a huge kitchen trash can! And there it was, buried under a bunch of trash.
Retracing how this could have happened, without Apple's thoughtful lost phone feature there's no way in hell we'd ever get this phone back.
He must have either left it somewhere or someone took it out of his bag, either way, someone picked up the phone. At the alert sound / lock, the would be thief got scared, and dumped the phone in the trash.