If you turn off personalized ads, that's basically what you'll see.
Although for me, it's a 50/50 split between topic-related and ads that appear to target a generic male audience, which is a very good guess for some topics.
Advertising is throwing darts at the board with your eyes closed, whenever it lands somewhere on the board and nets you point is good enough for most.
Typical conversion rates are under the 1% threshold so you accept that a lot of your spend is not efficient but when it is, you make your money back and some, if you are any good at it.
If that's all there is to it, I expect there's a lot of needless work being done under the covers.