Earlier quoted context omitted.
Apple advertising extends beyond the app store, both for iOS and macOS, and is personalized by default. You can disable this in Settings -> Privacy and Security -> Apple Advertising on both platforms.
You’re right, it’s a bit more than the App Store. AFAIK it also includes ads in the News app and apps that load articles from the News app (e.g. Stocks app). Their fine print also mentions the TV app, but I haven’t seen ads there, so perhaps they’re referring to content suggestions. This seems to be confirmed further down the line in the fine print when it says: > We create segments to deliver personalized ads on the…
It’s the only ad on a streaming service that has never annoyed me (I also like the fact that it’s not targeted). Zero ads are better but their implementation on tv plus is the least irritating I’ve experienced.