explain surge protection on a product with a 2 prong AC cord.
Typical MOV based surge protectors use the ground as a drain. At high surge voltages they attempt to short to ground and sometimes the neutral as well. Using a GFCI as a 2 to 3 pin adaptor won't create a magical ground path. That is, there would be no ground to short to.
With any appliance the surge protector is trying to keep surges which (hopefully) are coming down the hot wire. So, you have 600V suddenly on your hot. Where do you put it? Neutral is 1 conductor, but having 2 conductors is better. What if the surge happens on both neutral AND hot? You need ground as your option.
Pure series mode surge protectors like SurgeX and Brickwall are exceptions. Furman / Panamax with SMP uses a belt and suspenders approach though, so while they are mostly series mode, there is some shunting possible, and they need that ground.
Based on the latest testing I’ve seen however Furman and Tripp Lite have the lowest let-through voltages, not to mention a plethora of features so I continue to recommend them first.