I'm in favour of anything that tries to address the appaling effects of social media, but as long as there is advertising that will, surely, be some sort of personalisation. In the past you bought a magazine about, say, gardening, and all the ads were about gardening. The advertisers were betting that most people reading a gardening magazine were interested in gardening products, the ads were, to some degree, personalised.
If online 'personalised' ads were banned how would personalised be defined ?