Apple's ad business is estimated to be at $6.5 billion annually as of 2024[0]. Since then, they've decided to bring ads to Apple Maps. And of course there was the infamous ad for some movie on Apple TV injected into Apple Wallet earlier this year.
Just because they're not Google's size doesn't mean they don't have people making product decisions that will eventually sacrifice privacy for profits.
[0] https://digiday.com/marketing/when-it-comes-to-ads-apple-isn...
It hurts my brain that people still parrot the fact that "Apple doesnt do ads". As you rightly point out, Ads for Apple is a multi-billion dollar business, bigger than many other ad networks, and ad exchanges.
The reality distortion field is strong, even with some HNers.