Phone Link is Microsoft’s late and closed source alternative to KDE Connect. It requires you sign in to a Microsoft Account for it to work.
This means all the transactions between your phone and your PC are monitored and sucked up by Microsoft.
I’m not sure if this is a Pixel feature or if its available across all of Android, but there is an option when you connect over USB to connect your phone as a webcam - but that is of course tethered instead of being wireless.