Ads should be targeted to the content, not the recipient IMO. If you're reading about California wine in an article, advertise based on that - travel, wine, whatever.
Absolutely - And we already have this in the form of e.g. TV commercials, and, more recently, youtube sponsored segments. I vastly prefer getting ads relevant to what I'm currently looking at to something entirely different based on what The Algorithms decided I wanted to see.
But surely, there are car enthusiasts who read about cars that would never read an article about California wine, but would benefit from knowing about it.
In your world, that person misses out on the pleasures of california wine
This is an amusing example. I'd guess that car enthusiasts are aware of Sonoma for various reasons. I suspect they'd get some exposure to California wine inadvertently through that connection.