Not seeing relevant ads is literally my use case. If you see relevant ads it means at best that somewhere there's a list of all your history and preferences, and at worst your devices are actively listening to you
Or that the ads are relevant to the content. Slashdot in the early 'noughties had ads from companies selling products of interest to a tech-interested audience. Relevant ads without needing any tracking, like magic (because individual tracking wasn't widespread yet). The issue is with broad-interest sites like regular news, where matching the ads to the content is impractical because the content is extremely general.