If the ads content depends on a social media company seeing your posts and analyzing them, it’s probably fair to say it’s targeted advertising.

Browsers typically send Accept-Language headers so you could easily return ads in languages matching that header, without having to analyze your posts.

It’s like switching on to a Spanish TV channel and getting Spanish speaking ads. It’s not targeted because you are signalling you probably understand Spanish.

Correct. The proposal is to not be able to use your posts to determine which ads to show. But showing you ads in Spanish because you’re in southern Florida or Puerto Rico would be acceptable.