Yet, I am not a fan of this at all!!!! and Apple should have gone down this route!
I am considering now to go full #linux or #bsd

I will vigilantly follow this development.

than what Google, Meta, and the likes provide?
I am quite curious as to what this will actually mean.

Another thing I like is this:

*If an Apple Account is registered to a minor under 13 years of age or set up as an educational Managed Apple Account, we use on device logic to not display ads. And Apple Ads does not collect, use, or disclose any information from these accounts.*

I would have liked the age limit to be 15 maybe 17, but I like it.

seems to indicate that they cannot consolidate the data based on how you usage of different apps. Even across multiple of Apples own apps.
Or rather cannot is a strong term, it is more a will not.

Therefore, if we trust Apple (a big if in this context), how effective would ads in Maps be compared to Google Maps for instance? Is it more generalized advertisements like we know from flow TV, magazines and so on. Or will it be target ads but less specific...

If we assume Apple tells the truth here. This does fall into the same form of Surveillance Capitalism, which Shoshana Zuboff describes in The Age of Surveillance. Side note: Fantastically depressing book to read and should be mandatory.

It was my understanding that Apple would attempt target ads, but I am not sure how this would be achieved based on this wording. I become even more baffled about the plausibility of target adds when I read: https://www.apple.com/legal/privacy/data/en/apple-advertising/ which again...