When I (rarely) browse without an ad blocker, I notice how much better contextual ads (ads based on the site I am looking at) are compared to personalized ads. For example, on Board Game Geek shows ads for board games, board game accessories, and board game storage solutions. On webcomics I will see an ad for another webcomic that targets a similar audience. Both types of ads are genuinely interesting to me and I click on them on occasion.
When I see "personalized" ads, they are for things I have absolutely no interest in. On a tech news site, I get an ad for hair conditioner (I have short hair and losing it). On a 3d printing site, I am sold t-shirts with pro-police slogans (the fact that I regularly visit lemmy should automatically mark me as a bad target for the product).