[simonklitj]

This is the pop-up:

Personalized ads in Apple apps such as the App Store and Apple News help you discover apps, products, and services that are relevant to you. We protect your privacy by using device-generated identifiers and not linking advertising information to your Apple ID. Turning on Personalized Ads increases the relevance of ads shown by letting us use data like account information, app and content purchases, and where available, the types of News stories you read. Apple does not track you or share your personal information with any third parties.

Then a button that says “Turn On” and one that says “Turn Off”.

[random314]

More or less what I expected. This is basically local device side personalization. You can expect to see this pop up in safari soon. Safari will track your browsing and purchase history locally. At which point all display ads on the web and safari will be served by Apple on iOS.