Location-based isn't personalized.

Personalized is "we're showing you ads for local gyms because we noticed that you've been watching a lot of Youtube videos about workout routines". Or whatever.

I would argue those are two levels of personalization, actually. What makes you think where you are isn't a part of catering to you specifically?

If I see ads posted in the wall on a subway in Manhattan, that they are talking about restaurants nearby and not in San Francisco does not cross the threshold of 'personalized advertisement'.

If a digital panel switched to show me restaurants in San Francisco because they detected that I travel there a lot, that is absolutely personalized.

Similarly, if a maps service shows me restaurants near my destination that have paid for placement, thats not personalized. If they show me fast food restaurants on my route because I got directions to one previously, that is personalized.

It is a moot point because Apple isn't anti-advertising _nor_ anti-personalization. They are pro-privacy. Like Google, they will just move ad determination onto the device.

I'd argue that the difference is memory. When a service provider starts making decisions based on an individual user's history, rather than only using factors which they can infer on the spot, that's the point at which I'd call the behavior "personalization".