Earlier quoted context omitted.
As a user,I am most offended by ads that target me. I would rather see a completely unrelatable ad. It feels like learning new information that way,as opposed to being stalked and preyed upon.
The other option is to target the ads to the publication . As long as the publication is on a niche topic or geographically localized, you can choose ads that will likely interest people (local restaurants) without needing to track them. Tracking is only necessary when the ad venue is incredibly broad across topics and geography.
ReadTheDocs and sites like BikeRadar are my favourite examples: If I go to a bike site, I expect the ads I see to be about bike stuff. If I'm on a technical site (like Stack Overflow or ReadTheDocs) I expect to see ads about related technical topics.
Unfortunately the advertising industry has gone down the route of hyper-invasive, user-data focused advertising, for what I consider to be very little benefit to either publishers or users. The only people who benefit are those who pedal the tech that enables this market.
With all the ML tools available to us now, I'm not sure why we couldn't build tools that accurately match ad content to site content. You don't need to invasively track users users this way either, because you only ever need to be concerned with the topic of the site/article and not who's seeing it.