What is provideHttpClient(withInterceptors([...])) and how does it replace legacy HTTP interceptor providing?

import { bootstrapApplication } from '@angular/platform-browser';
import { provideHttpClient, withInterceptors } from '@angular/common/http';
import { Component } from '@angular/core';
import { authInterceptor } from './auth.interceptor';
import { loggingInterceptor } from './logging.interceptor';

@Component({ selector: 'app-root', template: '<h1>App</h1>' })
export class AppComponent {}

bootstrapApplication(AppComponent, {
  providers: [
    provideHttpClient(
      withInterceptors([
        authInterceptor,
        loggingInterceptor
      ])
    )
  ]
});