It absolutely sets your ad preferences. It does so by asking something along the lines of "do you agree to personalized ads, of you opt out, you won't get fewer

It absolutely sets your ad preferences. It does so by asking something along the lines of "do you agree to personalized ads, of you opt out, you won't get fewer ads they'll just be less relevant to you". I have no idea why we accept ads in a paid product in the first place.