I tried it recently (< 2 months ago) and the experience wasn't too bad. This was the first real ad "campaign" I had ever set up. The targeted group was pretty niche and while Reddit suggested going broader, I was able to stick with the subreddits that I considered relevant.

The most annoying part was the rather opaque period between launching, approving, and actually running the ad. The first real confirmation I had that things were working was a bill.