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Google parses and collects purchase history (purchases, subscriptions, reservations) from Gmail.

See https://support.google.com/accounts/answer/7673989, or go to https://myaccount.google.com/purchases, https://myaccount.google.com/reservations, https://myaccount.google.com/subscriptions.

"Consumer Gmail content will not be used or scanned for any ads personalization after this change." is what they said in places like https://blog.google/products/gmail/g-suite-gains-traction-in...

This does not say they will stop using the metadata for ad personalization.

I would love for someone to correct me on this one.

Really? That must be recent, because when I stopped using Gmail late-ish last year, it was still doing that kinda-cool-but-still-pretty-creepy thing of overlaying airline reservation information gleaned from emails onto Google Maps.

You'll still get the overlay but information from Gmail but aren't served ads anymore based on the contents. It changed somewhere in 2017 iirc.