Yes, we are talking about Cloud Print. It’s one of the oldest current services that Google offers. Google is known for killing many of its services after relative short time. I don’t think this will be applied on YouTube or Gmail, at least not in upcoming years, because these services make great financial profit and they are very popular (and also iconic), a big reason why to create bloated Google account even if you do not own Android smartphone. Google is not suicider and it knows what is it doing.
Cloud Print is a service, that serves to connect your local printer(s) to cloud for remote printing. This service was still in beta version and final version never happened. Instead of that, this service will be killed since January 1st 2021.
This service was useful for owners of older printers, so these users were able to print from older printers, using Chrome OS or Android, which in many cases did not offer direct support for Internet connectivity or wireless printing. Just add your printer to Google account and download app from Google, which serves as communication point between your mobile device and your computer, respective printer using Internet connection. No drivers required – another benefit for average computer user.
In present, many printers natively support wireless printing. When I was buying new printer, I was intentionally finding models with AirPrint support for native support of most of our smart, print-capable devices (MacBook Pro, iMac, iPad, etc.). Android since 8th version (Oreo) includes native printing service and most of current printer manufacturers include their own services.
Cloud Print makes it simplier to manage printers from different manufacturers, allowing older printers to serve as cloud devices. Most of the modern printers natively support cloud printing, so Google decided to kill another of its services. Again.