Yeah but a completely-dynamically-rendered web app slathered in frameworks for A/B testing, feature flags, analytics & tracking, cookie permissions, media middleware, localization, theming and browser compatibility sure does.
Getting you to click on ads does not take that. The only point in the list that makes money is spying I mean "analytics and tracking" but that doesn't take dozens of megabytes of js diarrhea and a thousand frameworks calculating DOM diffs and whatnot