But no, TB 3 will not be compatible with USB 4. Different chipsets.
That would be a monumentally stupid and unlikely state of affairs. Intel announced they were going to open up the (currently proprieary) TB3 standard. Helping the USB consortium produce a competing but incompatible standard with the same connectors wouldn’t even be in Intels interest.
Unless the current announcements are way off-base, what they are saying is that USB 4 will be Thunderbolt 3 in almost all but name, and that other manufacturers (like AMD, manufacturers of ARM chips and the various companies already offering USB-x chipsets) will be able to make compatible chipsets.
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USB-A to mini and micro USB-B cables, AFAIK, were never power-only, so why would a standard designed to be physically simpler introduce further complexity?
USB-C cables capable of 80-100W have to carry 5 Amps @ 20V - which means thicker wires. Leaving out the 4 pairs of high-speed data wires for USB 3/Thunderbolt probably makes the cable thinner/more flexible and cheaper - and most data cables simply don’t need to carry 100W.
The fallacy is that USB-C makes things simpler - the reality is that combining multiple, disparate functions into a single connector makes things more complex. The whole idea is driven by the growth of the phone/mobile market which wants to have everything in a single port to save space.