Apple blocked targeted ads based on track individuals, and collecting personal data. There are plenty of ways of serving targeted ads without the tracking.

The most obvious approach is content based targeting. If someone is reading an article about baby names, put ads for baby clothes next to it. If there’re reading an article about cloud infrastructure, put an AWS ad next to it.

People managed to make and sell perfectly good adverts long before Facebook and Google came along. Have you never noticed that every advert in a trade magazine targets people in that trade?