So ... watering it down even more. And ... no mention whatsoever of the Immaculate Heart of Mary. One would think that should make the summary title. I will be surprised if the phrase "Immaculate Heart of Mary" appears as such anywhere in the formula. At best you'll get some kind of circuмlocution. RomanTheo claims to have inside info that the formula under considerations meets all the requirements, but this here increases my skepticism.
Addendum: I just learned that the Instagram post is directly copied from his Sunday Angelus. Not trying to give credit to the "consecration", but it did mention the Immaculate Heart.
Here's the full quote:
I invite every community and all the faithful to unite with me on Friday 25 March, the Solemnity of the Annunciation, for the Solemn Act of Consecration of humanity, especially Russia and Ukraine, to the Immaculate Heart of Mary, so that she, the Queen of Peace, may help us obtain peace.
"Consecrations of humanity" (or something like that) to the Immaculate Heart were already performed by Popes before Vatican II.
I think this "consecration of humanity" on Friday will only serve as Rome's excuse to reject future requests of the true consecration of Russia. In a few years, or maybe even next year, when some bishops request it again, they'll just say "it has already been done in 2022".