This will include ... ads that refer to US elections, their processes or outcomes.
Google is expecting Trump and co to publicly contest the election. They're trying to stop the ad platform from being used to spread election misinformation.
…after which, they will remove all search results once and for all in favor of other low quality ads. ln the process, they are redefining “search engine” as search box that spews only AI generated garbage disguised as search results. And they can get away with this since everyone googles word definitions instead of picking up a dictionary, so technically they are still a “search engine” by their own definition.