1. Old Internet - Pages curate and/or sell whatever ads they can possibly get. They are generally statically hosted assets. 2. Original Ad Networks - They don't know anything about you, but it removes the need for pages to individually make ad contracts. You'll get whatever ads are in the queue, possibly sorted by rough groupings; "technology" ads, etc. 3. Current Situation - Everywhere you go you are presented with ads relevant to your interests, regardless of your current site. Vogue might try to show SSD ads or car parts ads, even though that's not the kind of content you would go to Vogue to consume.
I think there's an interesting case to be made that clickthrough decreases can be at least partially attributed to the fact that as tracking increases the probability that the ad represents the content of the site decreases and becomes an even more unwelcome distraction. Sponsored content is a way to defeat this, and ad blocking, by making the advertising appear more in line with the content of the site (or is it making the content of the site more in line with the advertising?).
In that case you need reviews, not ads.
On the flip side of this, if Vogue let any old crap run as advertising in their magazine this would be a form of reputation mining - trading their good name (earned after years of operation) for some short-term profit, but no-one bats an eye when the same thing happens online even though it's subtly devaluing online properties that do the same.