I’ve got a few theories about the finale of Picard season 3, this is just one of them.
The battle above Earth on Frontier day is over allowing the Enterprise F its retirement flyby, escorted by the NX-01, the Enterprise-A, Excelsior, the rebuilt Enterprise-D (courtesy of Geordi), and Voyager.
The crew of the Enterprise-D is hailed by Captain 7 of 9 of the Titan-A who thanks them for their assistance. The crew of the Enterprise-D fly off into the sunset on the way to deliver the D back to the fleet museum on Athan Prime.
Then these credits start up.