You can make a case that the ad targeting is just on App Store, News and Stocks but that is just for now, Apple used to have an ad platform iAd which wasn't that successful, so it was discontinued. Once they milk other revenue streams and are more of a monopolistic power in other web properties(like Maps), I am quite sure ads will make a return.
Bottom line is, at this point Apple is also building user profiles like Facebook.
Edit:
It seems like Ben has deleted his tweet. I will just update the link to Apple's support page and quote the relevant section.
"""We also use information about your account, purchases, and downloads in the stores to offer advertising to ensure that ads on the App Store, Apple News, and Stocks, where available, are relevant to you."""