You know how Tony the Tiger says “They’re great!”? What is “they” exactly?

Is he saying the individual flakes are great? Why not give a group compliment and say it’s great, as in they’re all great together in the bowl?

Maybe his catchphrase could be “Individually the flakes are sub-par, but all together they’re great!” Slightly less catchy, but it’s much more clear.

I like clarity from my breakfast cereal.