There’s a lot more that goes into the ad space than just picking which ad to show you, and it’ obviously depends on who wants to reach you. For example, probabilistic attribution is an important component on confirming that you actually got the ad and took the action across multiple systems.
Also, since you mentioned it, TV ads tend to be less targeted because they’re not direct-action ads. Direct action ads exist in a medium where you can interact with the ad immediately. Those ads are targeted to you more, because they’re about getting you to click immediately.
TV ads are more about brand recognition or awareness. It’s about understanding the demographic who watches the show, and showing general ads to that group. Throw a little tracking in there for good measure, but it’s generally about reaching a large group of people with a common message.
All that said, I am an enthusiastic paying customer of YouTube Prime and Music, Colab (I love Colab), and sometimes GCP. For many years I have happily have told Google my music and YouTube preferences for content. I like to ask myself what I am getting for giving up privacy in a hopefully targeted and controlled way.
I imagine admongers like Meta and Google have data that shows they are right to think they have a winning ticket in their AI behemoths, but if my YouTube could present any less relevant ads to me, I'd be actually impressed. They're intrusive, but actually they're so irrelevant that I can't even be bothered to block them, because I'm not going to start online gambling or order takeaways.