This concept would possible be used to get around the stalking features that Apple et al has implemented. Ex: Get N donor tags. Have it cycle through the N tags every 24/N hours. Therefore, to apple (/ device tracking), the "stalkee" is never being followed by a single tag for an extended period of time.
If you have to cycle the tags constantly, couldn't you just physically follow the person and spend less effort/money at that point? Or get a GPS tag that doesn't use the AirTag "network" at all, no cycling needed.