The fediverse was intended to be the opposite of the ad infested enshittified internet. Inserting ads would turn it into the same shit.
Wanting to receive 'relevant' ads is wanting to have personal information harvested, since that is the only way to make that work. That necessity is what led to google goong from a useful, minimal search engine into the enshittified mess that it is now.
Wanting users to actively engage in ads is even worse. Just wanting to get fucked over by corporate interests, just begging for the whole thing lean into sponsored content pushing out any user created content and eventually requiring draconian moderation and centralization to appease corporate interests because that is what always happens. There are no ethical and relevant ads. Relevant ads cannot be ethical
Your opinion is what led streaming services to change from affordable and easy fo access in netflix to ad infested, shittily designed and poorly run streaming sevices. Wanting ads to be added to a free community supported network of instances means you want the whole thing to turn to shit. There is no other possible outcome.
The federal oversight has a lot of opinions and there are hundreds of write ups about it if you don't like the easily accessible article I linked. The fact that voter fraud has been proven to not be an issue in US elections has a lot of write ups too.
Saying "we don't know" ignores the fact that ee do know and is just a talking point based on nothing from the people that want to suppress the vote. You know, Republicans.