They have the "See this less often" option if you click the options chevron within the promoted content. I'm convinced it's a placebo feature but...that's just me.

Yeah, that (placebo), or it could mean "see this less often" of this TYPE of ad. So more about the content than the actual ad. Again, I highly doubt they are just going to let users use the platform without any ads.

That's the more probable reality, yup. It's just signalling to me maybe it's time finally just bow out and get off this platform once and for all.

My assumption is that is only for the particular ad or company and that they will just show you ads from other places instead. More of a way to nudge the system into showing you more "relevant" promoted tweets than actually removing them.

You'll get less of that ad and more of another ad.