There's indeed a middle ground now, as far as I can tell. It's called "show less personalized ads" or something like that, but in effect I think it's showing ads related just to the page you're currently looking at. I'm perfectly fine with this model, and I'd rather we collectively go back to it, instead of ad trackers following you around on the Internet and serving you ads based on your browser history instead.

Of course that doesn't mean I trust Meta/Facebook/Instagram/Whatsapp, but at least on the surface it seems they understood the assignment.