Correct.
On the other hand, the topic of the game is just one of the contexts. A trivial example:
At least we can infer that the player likes to play games, so advertising for mobile games, discount gaming consoles etc might be a better match.
If we are going to go down the road of doing increasingly detailed ad customization as publishers, we will have come full circle to reinventing targeted ads by another name.
Plays x game on y website at z time of the days however should tell you something though.
But based on the site, game and other indicators it might be a good place to place an ad for:
- stupid mobile games (assuming the audience is just bored)
- discount consoles/games (assuming audience is playing it because they don't have access to a console)
- toys (assuming audience is kids)
- etc
Its the unsolicited tracking/stalking of individuals across communication networks GDPR forbids.