But practically, no; nobody's going to randomly click an ad link someone else handed them for funsies. In the common case, the ad company will be able to do conversions on the target demo (and make strong assumptions about the target demo, even if Google doesn't explicitly leak that data).
No idea if they share the "That click was fraud" signal with their clients for this kind of display ad.
On a related tangent, CloudFlare creating a Google Analytics tracker could help lessen Google's tracking. But this battle should've been waged about 10 years ago. It's a shame that Hydra has many formidable heads.
There's room for abuse, but Google will slap wrists of advertisers who try it.
I don't know whether Google will slap any wrists. It went so far that their ads hijacked the browser and redirected to scam sites. I've been on the debugging end on a few such attacks over the years, and it just happened once every other year or so on sites with a healthy amount of traffic. The scammers do try to fly under the radar (only targeting specific sites, only targeting mobile and specific demographics to make it harder to track). If they simply didn't allow them the access, the problem wouldn't exist.
It is a feature of their display ads system that user privacy is protected and advertisers shouldn't be able to solve to a user when the ad is displayed (though they can, of course, begin a business arrangement with a user if the user clicks the ad; that's called a "conversion"). Scammers that abuse the JS layer fly under the radar because Google will ban their display ads account if they get caught abusing what the JS allows them to access (such as trying to data-scrape parameters off the user's machine to estimate whether they're seeing someone they've already seen).
"3 Ad Serving. (a) Customer will not provide Ads containing malware, spyware or any other malicious code or knowingly breach or circumvent any Program security measure." [https://support.google.com/adspolicy/answer/54818?hl=en]