I've reported this back in 2017: https://news.ycombinator.com/item?id=13413399 (Though the screenshot was on G+, so RIP.) It's even been done to youtube.com before! Clicking ads is inherently dangerous, as they are allowed to show URLs which do not reflect the URLs they will actually route you to. You should never click on an ad. This is a scenario that violates any reasonable convention of good web behavior, but Goo…
Isn't this true about any link?
However, when you hover over a Google Ads link, it does not do this. It shows you a friendly URL for the destination (such as https://www.ebay.com) but when you click on it, you get redirected with a bunch of tracking stuff added or even through a URL not on the ebay.com domain, as shown in this "exploit". In fact, even if an advertiser were to use a "clean" link as the destination, you first get redirected on that click through a google.com URL, even though the hover text is still lying about the destination.
I'm not even sure what it's doing here, there's some neat JavaScript in play. The hover text shows the "clean" URL, but if I inspect it, and then hover over it again, it shows the real redirect URL through google.com.