And that's a great trick - calling it "privacy" without reducing your own data collection/telemetry/spying, only your competitors. If I want privacy, Apple is included in the companies I want to stay private from!
So geo-targeting, and targeting via fine-grained (5k people in the same segment) advertising profiles built from data such as your age, name, address, gender, what other apps you've installed, what content you've consumed in Apple products, etc.
This is 100% gonna get litigated by the EU, and I really hope they lose, because the principle is really really important, regardless of what we think of adtech.