Do you think they won't have a provision to revoke developer's signing keys for reasons they determine? If they don't, the whole malware-fighting angle would be meaningless. Once developer's keys are revoked, their apps become uninstallable on Android that ships with Google apps. They could also easily uninstall apps signed with revoked keys.

I assume they'll do this using chain of trust where they give signing keys to verified devs so that the apps don't have to be signed by Google, but Android can still check if an app was signed by a Google-issued key.

E: Looking at this it says:

Register your apps

You'll need to prove you own your apps by providing your app package name and app signing keys.

So you give your keys and I suppose they allowlist that package and keys. That means they'll be able to revoke individual apps as well as dev keys.