Samsung and Apple both have their own trackers: SmartTag and AirTag, respectively. What these trackers have in common is that they both use a crowded network of devices to help track and locate lost tags or other devices. The APK teardown reveals that Google is working on a similarly crowded network to find lost things.
The teardown revealed the hidden code in the beta channel in the latest version 21.24.13 of Google Play Services. the first says “Let your phone help you find your and other people’s devices” and the other reads “Find my device network”.
This indicates that Google will take advantage of every Android device on Google Play Services to help locate lost or stolen Android devices without a data connection. The words in the first string suggest that everyone who turns on the Find My Device feature will also need to enable tracking for other lost devices. Nothing concrete anyway, so that the Find My Device network (if ever) may have changed since launch.